The Rundown: Edition 66 – Data centres, FSE, life-saving selfies
Welcome to The Rundown, a snapshot of news, views and intel from the fast-growth tech and investment scene, brought to you by FieldHouse Associates.
The times they are a-changin’. No no, this isn’t to invite nostalgia, discuss Bob Dylan, or debate whether or not Gen Z has it the hardest. The time is quite literally changing. Clocks go back by one hour in the UK on Sunday.
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UK has 12 months to fulfil AI potential
A new report by the Project Sovereign AI Leadership (SAIL) taskforce proposes a “Prosperity Compact” between government, business, places and citizens to allow Britain to fulfil its AI potential and keep data centre projects on track. Project SAIL was convened by the Rigby Group, and members include senior execs from Microsoft, BT, NScale and Cisco. The Guardian
Budget remains safe after tech flaw
Scotland Secretary Douglas Alexander has received “no indication whatsoever” that confidential information contained in next week’s Autumn Budget had been breached, despite the Office for Budget Responsibility temporarily taking its website offline due to an issue in the PHP programming language. The Chancellor previously instituted new security protocols drawing on his experience at the Ministry of Defence. The Standard
Microsoft calls off UK AI data centre deal
The US tech giant has pulled out of an Essex-based deal with British data centre company, NScale. The decision is seen as a blow to NScale’s multi-billion-dollar listing plans and Britain’s wider tech infrastructure ambitions. The Telegraph
Britain risks becoming an AI customer, not a creator
The Council for Science and Technology has urged ministers to invest in domestic capabilities or risk becoming a “high value AI customer”. Without urgent action, Britain could spend heavily on overseas technology while having little influence over its development and use. City AM
Rejoining the EU could boost UK economy by 6%
Reversing Brexit could increase UK economic output by up to 6%, according to Goldman Sachs. The bank’s analysis assessed the potential benefits of closer ties, finding that retaining the current Brexit arrangements would offer limited economic gains. Times
FSE launches £70m fund for London’s scaleups
The Future London Growth Fund, a £70 million fund managed by investment firm The FSE Group, has been launched to support the growth of ambitious scale-up businesses across London’s 32 boroughs and the City – especially those that may be overlooked or underserved by traditional finance providers. The fund is backed by the Mayor of London and the British Business Bank. City AM
UK semiconductor firms raise $1.6bn
British semiconductor startups have already raised $1.6 billion this year, an increase on the $1.3 billion raised in 2025, as the race hots up to produce the hardware that enables the AI revolution. The businesses attracting big investments include Salience Labs, Olix and Fractile. Times
Azoma secures £8m Series A
Azoma, a platform that helps brands drive revenue through AI shopping agents, has raised £8 million in a Series A round led by Puma Growth Partners, with participation from dunnhumby, Twin Path, MaRS IAF, Rank Ventures, Ignite Ventures. Soapbox.VC
Indurex raises €7m for cybersecurity expansion
Amsterdam-based Indurex, which develops industrial cybersecurity software, has raised €7 million in a funding round led by Contrarian Ventures, with participation from Axeleo Capital and Curiosity. It will use the funds to grow its business in Europe and the Middle East. tech.eu
Dude, where’s my yacht?
A booming global yacht fleet, regulatory barriers and environmental restrictions have created a shortage of marina berths. John Nery, Managing Partner at Squircle Capital, explains that this extreme supply-demand imbalance is transforming scarce waterfront marinas into a highly attractive infrastructure asset class. FT
Welcome to the AI bubble
Billionaire CEO of Citadel Ken Griffin believes investors are “almost certainly” in an AI bubble, as many companies continue to grapple with both the staggering costs of the technology and the uncertainty of how it will ultimately reshape the economy. Bloomberg
All hail the Norwegian tech scene
According to Magne Uppman, Founder of Andöya Ventures, Norway’s tech scene is poised to expand, with recent scaleup exits such as Cognite creating new startup “mafias”. He sees a prime opportunity in physical AI and robotics by leveraging the country’s deep industrial heritage and hardware know-how. Sifted
European tech funding powers ahead
European tech companies raised €27.8 billion across more than 730 deals in the third quarter – a 32.4% increase year-over-year from Q3 2025 (€21 billion) and more than double Q3 2024 levels (€11 billion). AI and cloud deals received roughly 47% of investment, and Innovate UK was the most active investor from July-September. tech.eu
With the Autumn Budget only days away, businesses and MPs have spent the final full week before the announcement sorting their priorities for growth and investment. In the meantime, there have been a number of new announcements covering tech skills, AI deployment and security of critical infrastructure.
Government sets ambitions for 200,000 entry-level tech jobs
The Digital and Technologies Jobs Plan presents an ambition to open 200,000 entry-level opportunities, including apprenticeships, over the next decade. It brings together training, placements and recruitment through a Skills Deal, with dedicated support for smaller employers. Department for Digital. Culture, Media & Sport
Up to £5m for AI assurance and compliance
Applications opened for Innovate UK funding of up to £5 million to help SMEs develop and deploy AI solutions that monitor, test or verify compliance with requirements, standards and controls. The competition aims to help suppliers move beyond pilots towards practical adoption, with applications closing on 8 December. Innovate UK
New protections proposed for undersea infrastructure
A consultation has been launched on legislation to strengthen the security and resilience of subsea cables, pipelines and interconnectors. It is seeking views from infrastructure operators and technology providers on protecting the data and energy connections against accidents and potential sabotage. Department for Digital, Culture, Media and Sport
UK and Singapore deepen digital finance cooperation
The UK and Singapore held talks covering tokenisation, responsible AI adoption and quantum security in financial services. Discussions also addressed venture and growth capital, alongside cooperation on sustainable finance and digital financial infrastructure. HM Treasury
Have you ever taken a selfie so great it left you at a loss for words? When all you could do was marvel at your face and say “wow”? No? Just us on a Saturday night? Well, moving swiftly on. Have you ever taken a selfie that could save your life? No? Well, the correct answer is “No, not yet”. Researchers at Harvard Medical School have developed FAHR-Face, a foundation model trained on more than 40 million face photos. From there, they built two AI models that can estimate biological age (how old you look, not how old you actually are) and mortality risk in cancer patients from a single selfie. The experts at Mass General Brigham have created ‘one of the most comprehensive demonstrations to date’ of how AI analysis from a photo can help evaluate a patient’s health and potentially support their medical care. Right, everybody get those cameras out and say “cheese”.
Speaking of groundbreaking innovation and futuristic tech, did you see Elon Musk’s flying car? The Tesla boss unveiled the company’s new Roadstar, which is filled with 600 litres of compressed air, 10 directional cold-gas thruster nozzles, and a suction-fan system on the bottom. While the vehicle might not be road – or air – worthy any time soon, it is pretty cool.