UK, US To Finalise 'Ground-Breaking' Tech Deal During Trump's Visit: All About The Deal

(MENAFN- Live Mint) The UK is set to sign a“ground-breaking tech agreement” with the US during President Donald Trump's visit to Britain next week, according to the UK government.

The accord, a follow-up to the previously established Economic prosperity dea is designed to bolster collaborations between the two nations' technology sectors, with a special focus on key areas of advanced technology.

The deal is also expected to give a boost to businesses and consumers on both sides of the Atlantic, the UK's Department for Science, Innovation and Technology said in a statement, cited by Bloomberg.

“Cutting-edge technology such as AI and quantum computing will transform our lives,” UK Technology Secretary Liz Kendall, who was appointed to her role on September 5, said in a statement.

Areas of collaboration

The agreement includes utilising artificial intelligence (AI) and other high-end technology to find new ways to treat diseases as well as improve the services given to the public, Kendall added in her statement.

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The US and UK have already work closely on a range of technologies, which includes AI , semiconductors , telecoms and quantum computing, Bloomberg said in the news report.

US companies investment and support

A significant aspect of the deal is the strong backing from the US companies, with delegation of top executives accompanying President Trump.

During Trump's second visit to the UK on Tuesday, which is expected to last three days, he will be accompanied by the Chief executives of two tech giants - Nvidia Corp. and OpenAI.

Nvidia's CEO Jensen Huang and OpenAI's CEO Sam Altman plan to pledge support for billions of dollars in UK data center investments during their UK visit, according to sources known to Bloomberg.

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On the other hand, CoreWeave Inc., a US-based cloud computing provider that got listed on US stock exchange Nasdaq this year, is also set to make an announcement about an investment in the UK, according to Bloomberg's source.

Separately, BlackRock Inc. plans to invest as much as £500 million ($678 million) in Britain's data center market, a commitment it unveiled as Chief Executive Larry Fink also prepares to join Trump on his state visit along with Huang and Altman, the news report said.

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