Lanarkshire's AI Growth Zone has secured a new £300 million investment package.
The investment includes a £202 million guarantee from the National Wealth Fund, helping unlock a total £300 million financing package from ING, ABN AMRO, Santander, the Scottish National Investment Bank and Siemens Financial Services.
The funding will be used by DataVita to expand its existing DV1 datacentre and construct a second.
Dell Technologies has also announced it will establish a base in the area. Dell Technologies will move to Mercury House in Lanarkshire’s AI Innovation Park, which will be the new home for the company’s Scottish team.
The wider development is expected to support more than 3,400 jobs, alongside skills and training opportunities to help local people access careers in technology, engineering, construction and AI.
UK AI Minister Kanishka Narayan said: "AI is already helping scientists discover new medicines, supporting better public services and helping businesses get more done. The countries that build the infrastructure behind this technology will be the ones that attract investment, create jobs and help shape the industries of the future.
"That’s why today’s announcements matter. They will help ensure Scotland is at the forefront of one of the biggest economic opportunities of our time, bringing investment, reindustrialisation and opportunities to communities like Lanarkshire.
"For local people, that means more than new buildings and technology. It means the chance to develop new skills, access new careers and benefit from the growth and investment that AI can bring."
UK Business Secretary Jonathan Reynolds said: "This investment, and Dell’s decision to back brilliant talent in Lanarkshire, is proof that our AI Growth Zones are already playing their part in reindustrialising Britain and delivering good growth in every postcode.
"By using the National Wealth Fund to unlock private finance, we’re transforming Scotland into an AI powerhouse - delivering high-skilled jobs, training, and new opportunities that people can access on their doorstep."
