Lanarkshire AI Growth Zone wins £300 million backing as Dell picks site

Lanarkshire's AI Growth Zone has secured a £300 million financing package for DataVita to expand its DV1 datacentre and build DV3, adding 80MW of capacity. CoreWeave has agreed to lease the full capacity of both facilities for 15 years. The financing is being provided by ING, ABN AMRO, Santander, the Scottish National Investment Bank and Siemens Financial Services, with a £202 million National Wealth Fund guarantee supporting the lending. Dell Technologies also plans to move its Scottish team to Mercury House in the area's AI Innovation Park. The wider North Lanarkshire development is expected to support more than 3,400 jobs, training and skills programs, a £543 million community fund and more than £8 billion of private investment, with the facilities' energy needs expected to be met overwhelmingly by renewables.

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