Blackstone invests £10bn in AI data centre in Blyth
- Blackstone's £10 billion investment will create Europe's largest AI data centre in Blyth, Northumberland, generating 4,000 jobs.
- The project includes 1,200 construction jobs and a £110 million commitment for local skills training and infrastructure.
- This investment reflects the UK’s renewed status as a competitive market for foreign investment and economic growth.
A significant investment of £10 billion by Blackstone will lead to the establishment of Europe's largest AI data centre in Blyth, Northumberland, creating approximately 4,000 jobs. This initiative, announced by the UK Government, is part of a broader strategy to attract foreign investment and stimulate economic growth. Sir Keir Starmer, the Prime Minister, emphasized the importance of such investments in showcasing the UK as a competitive player in the global market. The project will generate around 1,200 construction jobs, highlighting the immediate economic benefits for the local community. Additionally, Blackstone has committed £110 million towards skills training and transport infrastructure, further enhancing the region's development. This investment comes after the collapse of Britishvolt, which had previously intended to build electric car batteries on the same site. Blackstone's president, Jon Gray, noted the UK’s strong combination of talent, innovation, and a transparent legal system as key factors in their decision to invest. The company aims to support various sectors, including social housing and energy transition, while also focusing on critical infrastructure to bolster the digital economy. The announcement coincides with Sir Keir Starmer's meetings with US business leaders in New York, where he is promoting the UK as an attractive investment destination. This investment is expected to be a focal point at the upcoming international investment summit in October, aimed at drawing in top executives and financiers to the UK.