The news: ​​Google, the latest Big Tech company to reach a $3 trillion market cap, is committing £5 billion ($6.39 billion) to expand its UK footprint over the next two years to anchor AI and cloud growth in one of its most important ad markets, per The Wall Street Journal.

What’s Google investing in? The investment covers AI infrastructure, renewable energy capacity, workforce training, R&D, and a new data center north of London. The facility will serve growing demand for AI-powered services across Google Cloud, Workspace, Search, and Maps—all pillars of its ad ecosystem. 

Google expects the expansion to help drive as much as £400 billion (about $511 billion) in AI-related economic activity for the UK by 2030 while supporting about 8,000 local jobs annually.