🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Britain to invest 300 million pounds in AI supercomputing

Economic Times

Economic Times · 1y ago

Britain to invest 300 million pounds in AI supercomputing

Britain has announced plans to increase funding for two supercomputers dedicated to AI research, with a focus on ensuring the safety of advanced AI models. The funding for the "AI Research Resource" will be increased to £300 million, providing researchers with access to highly capable computing tools. The supercomputers will aid in testing safety features of AI models and drive advancements in areas such as drug discovery and clean energy. One supercomputer will be located in Cambridge, while the other will be in Bristol.

Related News

UK and ChatGPT maker OpenAI sign new strategic partnership - The Economic Times

Economic Times

Economic Times · 1m ago

UK and ChatGPT maker OpenAI sign new strategic partnership - The Economic Times

The UK and OpenAI have signed a strategic partnership to enhance AI security research and invest in British AI infrastructure. The UK government plans to invest 1 billion pounds in computing infrastructure to amplify public compute capacity significantly. The partnership aligns with the "AI Opportunities Action Plan" spearheaded by Prime Minister Keir Starmer, aiming to transform the UK into an AI superpower. OpenAI may expand its London office, exploring AI applications in various sectors.

China targets 50% growth in computing power as it aims to race ahead of US

Economic Times

Economic Times · 1y ago

China targets 50% growth in computing power as it aims to race ahead of US

China has announced a plan to increase its computing power by over 50% by 2025, highlighting its focus on supercomputing and AI innovations. The goal is to reach 300 EFLOPS (quintillion floating-point operations per second) by 2025. This comes as China and the US compete in areas like semiconductors, supercomputers, and AI. China currently ranks second behind the US in computing power. The plan includes building more data centers and improving computational infrastructure, especially in western China. Speed and efficiency of the computation network are also emphasized.

UK's Craneware rejects Bain Capital's $1.3 billion takeover proposal

Economic Times

Economic Times · 2m ago

UK's Craneware rejects Bain Capital's $1.3 billion takeover proposal

British software firm Craneware rejected a takeover bid from Bain Capital, valuing it at 939.4 million pounds, as it considered the 26.50 pounds-per-share proposal insufficient. The bid offered a 29.3% premium over Craneware's previous share price before Bain's interest was disclosed. Specializing in healthcare financial software for the U.S. market, Craneware has a market capitalization of around 710 million pounds. Bain Capital decided not to pursue the offer further.

China is getting secretive about its supercomputers

Livemint

Livemint · 1y ago

China is getting secretive about its supercomputers

Chinese scientists have become more secretive in their supercomputing research as the US increases efforts to hinder China's technological progress. China has stopped participating in international supercomputing forums, creating a divide that will slow down the development of AI and other technologies. The race for faster supercomputers is crucial for national security, as the country with superior computing capabilities can gain an advantage in developing military technology. Chinese supercomputers are believed to be faster than what is reported due to their withdrawal from global rankings. US restrictions on exports of cutting-edge chips have impacted China's ability to maintain its lead in supercomputing. The increasing secrecy makes it challenging for the US government to determine which country has faster supercomputers.

OYO to invest 50 million pounds in UK to expand premium hotel portfolio

Economic Times

Economic Times · 6m ago

OYO to invest 50 million pounds in UK to expand premium hotel portfolio

OYO plans to invest 50 million pounds over three years in the UK, focusing on expanding its premium hotel portfolio and creating 1,000 jobs in the hospitality sector. The strategy includes acquiring long-term leaseholds and management contracts with premium properties. OYO aims to strengthen UK tourism infrastructure and diversify offerings by introducing European brands. The investment highlights the role of tech startups in boosting Indo-UK trade and economic relations, enhancing bilateral trade growth.

Lenskart-backer Epiq Capital raises $225 million in Fund II, to double down on India investments

Money Control

Money Control · 2y ago

Lenskart-backer Epiq Capital raises $225 million in Fund II, to double down on India investments

Epiq Capital plans to invest in about 8-12 companies with an average cheque size of around $20-25 million. It manages assets worth $300 million and the cumulative valuation of its nine companies is around $15 billion.

Britain invites China to its global AI summit

Economic Times

Economic Times · 1y ago

Britain invites China to its global AI summit

Britain has invited China to its global artificial intelligence (AI) summit in November, aiming to bring together governments, tech companies, and academics to discuss AI risks and regulation. Foreign Minister James Cleverly stated that excluding one of the leading nations in AI tech would not keep the UK public safe from AI risks. The summit will address topics such as AI's impact on biosecurity and its potential for public good, like in safer transport. Britain seeks to engage with China while safeguarding its institutions and infrastructure.

Britain limits AI summit guest list to 100 invitees, excludes startups

Economic Times

Economic Times · 1y ago

Britain limits AI summit guest list to 100 invitees, excludes startups

The upcoming global artificial intelligence (AI) summit in Britain will only be attended by 100 politicians, business leaders, and academics, excluding prominent AI startups. The exclusive event, organized by co-founder Matt Clifford, aims to yield substantive outcomes with every attendee actively participating. The chosen guests are expected to include cabinet ministers, CEOs of AI companies, academics, and representatives of international civil society. The event, scheduled for November, is part of Prime Minister Rishi Sunak's ambition to position Britain as a global leader in AI regulation.

Experts urge govt to invest in open data, compute for AI leadership

Economic Times

Economic Times · 1y ago

Experts urge govt to invest in open data, compute for AI leadership

Experts and industry representatives are urging the Indian government to invest in open data, open compute, and open models to ensure India's success in the global artificial intelligence race. They argue that the government needs to create enabling conditions by providing access to compute and Prasar Bharati content to foster the development of foundational models suited for the Indian situation. The government is working on initiatives like the India Datasets Platform and the National Data Governance Policy to facilitate data sharing and management. The industry emphasizes the need for government support and funding to drive the development and deployment of AI solutions at scale. The government is also considering setting up supercomputing and quantum computing hubs to address the compute crunch faced by AI companies.

Fast fashion retailer Shein's UK sales surged to $2.8 billion in 2024 - The Economic Times

Economic Times

Economic Times · 14d ago

Fast fashion retailer Shein's UK sales surged to $2.8 billion in 2024 - The Economic Times

Shein's UK sales surged to 2.05 billion pounds ($2.77 billion) in 2024, marking a 32.3% increase from the previous year. Despite facing listing challenges in New York and London due to regulatory barriers and geopolitical tensions, Shein's business thrived in the UK, its third-largest market. The fast-fashion retailer's UK unit also reported a significant pretax profit increase to 38.25 million pounds. However, changes in customs duty exemptions could affect its pricing strategy.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Just Months After Promotion, Open ...

Microsoft locks down a building a ...

Gaming Ban Stumps Cricket: Virat ...

Download the medial app to read full posts, comements and news.