UK banks on next chip boom
Plus Softbank opts for France + latest jobs.
Happy Monday, I'm looking forward to a day in central London with lots of coffees.
Next week the government will announce an AI hardware plan. Why is there so much hope around emerging companies in this area and will this time be different for the UK? But first...
Happening Today 📆
The Andy effect: Regional mayors will get new powers to invest innovation cash in their areas, the tech department announced this morning. They will be handed control of Local Innovation Partnerships money — a £500m fund to boost new industries, but not until after the next spending review in 2027. Tech secretary Liz Kendall joins mayors in Liverpool today as the city announces two projects getting some of the local partnerships cash.
East London, actually: London mayor Sadiq Khan opens SXSW in London today. Ministers are lining up too with culture secretary Lisa Nandy, DSIT minister Ian Murray and trade man Chris Bryant all speaking today. Full agenda here.
Launch: Balderton Capital has launched a "Built in Europe" campaign this morning with some of the continent's best-known founders to push back against the narrative that Europe can't build world-leading tech companies. It includes founders from Wayve, ElevenLabs and Revolut.
In Parliament: At 2:30pm Lib Dem peer Tim Clement-Jones is asking ministers if the Sovereign AI Unit and government procurement can be used to reduce public sector dependence on US hyperscalers.
In today's edition:
🇬🇧 UK hardware startups prep for the AI inference boom
🇫🇷 Softbank plumps for France over UK for a massive infrastructure project
👩💻 The latest job moves and vacancies
