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OpenAI's £30bn UK AI project stalled amid site visit failure and speculative investment claims

Market News
04 Jul 2026, 15:09 WIB
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Bearish
OpenAI's £30bn UK AI project stalled amid site visit failure and speculative investment claims

OpenAI's Stargate UK AI project, initially hailed as a £30 billion investment, has stalled after the company never visited a key planned site and paused the project citing high UK electricity costs and regulatory uncertainty. UK officials dispute these reasons, suggesting financial viability issues instead. Only about £10 billion of the touted investment was real, with the rest speculative. This raises concerns about the credibility of future AI infrastructure investments in the UK, especially given the country's high electricity costs compared to the US.

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