Big Tech is backing UK AI with billions of dollars of investment.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm Sarah Rogers. Good morning.

Tech giant Microsoft has announced a $30 billion investment in the UK's AI sector.

It's largest outside of the US. The announcement

time to coincide with President Trump's unprecedented second state visit to the country. It forms

part of a larger deal, which will see Google and Nvidia put money into British-based infrastructure.

More from the BBC's technology editor, Zoe Kleinman. A lot of those billions will be spent on

new data centres and Microsoft will also now be involved in the development of a powerful

supercomputer. Sarkir Stama said the agreement represented a general step change in Britain's

relationship with the US that would deliver growth, security and opportunity up and down the country.

Microsoft's boss Satya Nadella told me he hopes the technology will boost Britain's economy by 10% within 5 years.

Always, whenever anyone gets excited about AI, I want to see it ultimately in the economic growth and in the GDP growth.

So our hope is not 10 years,

but maybe five years, but it does take time. I think there's no shortcutting the time for diffusion and also change. But it's a prediction, not a promise. Mr. Nadella also warned AI shouldn't be

overhyped and acknowledged that all tech things are about

booms and busts and bubbles. He conceded that artificial intelligence requires high energy

consumption, but said this was outweighed by its benefits, especially in healthcare, public services

and productivity. The BBC's Zoe Kleinman. Meanwhile, there are reports that China's internet regulator has instructed the nation's biggest technology firms to stop buying AI chips from US company Nvidia.

The Financial Times said the cyberspace administration of China has also called for existing orders to be cancelled.

OK, let's do the numbers.

Gold slipped slightly after hitting a new record of

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