ServiceNow Commits $1.5B To UK AI And Workforce Growth
In This Article:
ServiceNow, Inc. (NYSE:NOW) shares are trading higher on Monday. The company plans to invest $1.5 billion in the U.K. over the next five years.
The company plans to expand office space and increase its workforce beyond 1,000 employees.
The investment will also enhance its London and Newport data centers with Nvidia GPUs for local LLM data processing and introduce skills programs for 240,000 U.K. learners.
ServiceNow is reaffirming its commitment to the U.K. by investing in expanded office space, significant workforce growth, and AI skills programs.
The company aims to leverage AI through domain-specific LLMs in U.K. data centers and to provide reskilling opportunities for British workers.
ServiceNow Chairman and CEO Bill McDermott said, “The United Kingdom is embracing technology transformation at scale. In this new age of AI, the country continues to be a global leader in driving innovation for the benefit of all its communities.”
“Our investment accelerates the UK’s push to put AI to work, empowering people, enriching experiences, and strengthening societal bonds. Together, ServiceNow and our customers across the UK are delivering a future where technology benefits everyone.”
Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF (BATS:IGV) and Franklin Exponential Data ETF (BATS:XDAT).
Price Action: NOW shares are up 0.71% at $945.25 at the last check on Monday.
Image via Shutterstock
Read Next:
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article ServiceNow Commits $1.5B To UK AI And Workforce Growth originally appeared on Benzinga.com
? 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.