The latest investigation by the British publication Guardian sheds light on numerous issues related to the claimed investments in the artificial intelligence sector in the UK. It turns out that a significant portion of the announced investments are not actual financial inflows into the economy, and some large-scale projects exist only as concepts.
This is reported by Business • Media
Supercomputer That Exists Only on Paper
The investigation focused on companies Nscale and CoreWeave, which are actively promoting the development of artificial intelligence infrastructure in collaboration with chip manufacturer Nvidia. In particular, the planned supercomputer from Nscale in Essex has generated considerable attention, as it is officially stated to be operational by the end of 2026 and is expected to become one of the most powerful computing centers for AI.
However, during the investigation, journalists found that the site in Lafton, where the data center is supposed to be built, is still being used by another organization for storing construction scaffolding. Land registry data does not confirm Nscale’s ownership of this territory.
“These claims do not pass independent verification, emphasized the UK government.”
Another aspect is that a considerable portion of the announced investments is not direct cash inflows but involves the purchase of equipment. Specifically, the companies plan to acquire significant batches of Nvidia chips, which will be installed in British data centers. Subsequently, these resources will be leased to clients, including leading technology corporations in the US.
Questionable Transparency and Record Profits for Investors
The investigation also revealed that the companies involved in the projects have already generated multi-million profits for their early investors. For example, Nscale’s shares were initially sold for around one cent, but after raising over $2 billion in investments and a company valuation of $14.6 billion, their price skyrocketed tens of thousands of times, allowing early investors to achieve astonishing returns of up to 350,000%.
CoreWeave, which conducted an IPO in 2025, also experienced sharp fluctuations in its stock price. After a rapid rise fueled by interest in AI, its shares have decreased by nearly 40% over the past six months.
In addition to financial issues, CoreWeave is under pressure due to a class-action lawsuit from investors. They claim that the company concealed information about delays in the construction of data centers. The company’s management asserts that these accusations are unfounded and is preparing to defend its position in court.
Additionally, the energy infrastructure for new projects raises questions. One of the upcoming data centers in Scotland may require up to 1 GW of power — comparable to the energy consumption of an entire nuclear reactor. However, the partner company DataVita currently has no concrete plans for creating facilities of such scale.
Thus, the ambitious plans of the UK regarding AI development are accompanied by numerous inconsistencies, questionable transparency of investments, and windfall profits for a limited circle of investors, raising additional questions among the public and experts.