King’s Cross becomes a major London hub for AI and tech firms

In short: King’s Cross has shifted from a run-down area to one of London’s main centers for AI companies, investors, and research.

What's going on

King’s Cross, near one of London’s busiest train stations, is becoming a focal point for technology companies, especially those working on artificial intelligence, or AI (software that can generate text, images, or decisions by learning from data).

The Financial Times points to several signs of this shift. Google’s new UK headquarters in King’s Cross is due to open later this year, after construction began in 2017. The area is already home to Google DeepMind, Google’s AI group, led by Demis Hassabis.

More firms are moving in nearby. The US AI companies OpenAI and Anthropic are opening European offices in King’s Cross, close to DeepMind and UK start-ups such as Synthesia (which makes AI-generated video) and Wayve (which builds software for self-driving vehicles). Life sciences are also part of the mix, including offices for AstraZeneca, and AI-focused drug discovery company Isomorphic Labs, which reportedly raised $2.1bn in venture funding.

What to watch

King’s Cross shows how a long redevelopment can reshape a city, but it also raises questions about who benefits. Property prices have climbed, and nearby Somers Town remains deprived. Another open question is whether the UK will capture more of the investment and long-term business growth, or whether it will mainly host overseas companies, like a tournament venue that draws players from elsewhere.

Source: Financial Times