Chipmaker Nvidia is investing £2bn to bolster the UK’s artificial intelligence start-up ecosystem. Describing the moment as the “age of AI,” CEO Jensen Huang said the company will target firms including Revolut and Wayve.

The investment, announced on September 18, will be directed at the development of AI technologies in the UK with the aim of supporting new ventures and creating jobs. Venture capital partners in the initiative include Accel, Air Street Capital, Balderton Capital, Hoxton Ventures and Phoenix Court.

According to Nvidia, the programme will expand access to capital in “AI Growth Zones” and tech clusters across London, Oxford, Cambridge and Manchester.

Earlier this week, Nvidia, Microsoft and OpenAI revealed more than $40bn in combined investment for UK AI expansion. Microsoft pledged $30bn, its largest-ever UK investment, while OpenAI launched its Stargate initiative and Nvidia partnered with CoreWeave, Nscale and Microsoft to establish $15bn in AI factories.

Nvidia also disclosed a $5bn stock purchase from Intel. Under the agreement, both companies will jointly develop new generations of products for data centres and personal computers.