ServiceNow Pledges $1.5bn Investment Into UK Business Over Five Years

Rhea-AI Summary

ServiceNow (NYSE: NOW) has announced plans to invest $1.5bn (£1.15bn) into its UK business over the next five years. The investment includes:

• Expanding office space and significantly growing its employee base beyond the current 1,000 headcount
• Expanding London and Newport data centres with Nvidia GPUs for local processing of LLM data
• Offering new AI skills programmes to reach 240,000 UK learners by 2027

The announcement was made during the International Investment Summit. ServiceNow's AI platform is used by 85% of Fortune 500 and over half of FTSE100 companies. The company plans to bring Nvidia GPUs to its UK data centres to support UK processing of data on its LLMs. ServiceNow also commits to donating $1.5 million in grants to local non-profit organizations over the next five years.

Positive

• Planned $1.5bn investment in UK business over 5 years
• Expansion of office space and significant employee growth
• Addition of Nvidia GPUs to UK data centres for local LLM processing
• AI skills programmes targeting 240,000 UK learners by 2027
• 85% of Fortune 500 and over 50% of FTSE100 companies use ServiceNow's platform
• UK employee base doubled in past 5 years, surpassing 1,000 employees
• Commitment to donate $1.5 million to local non-profits over 5 years

Negative

• None.

ServiceNow will double-down on commitment to UK with investments in expanded office space, significant employee growth and AI skills programmes

Plans to put AI to work for people in the UK with domain specific LLMs in UK data centres and AI reskilling programmes for British workers

LONDON--(BUSINESS WIRE)-- ServiceNow (NYSE: NOW), the AI platform for business transformation, today confirmed its commitment to the UK market, with plans to invest $1.5bn (£1.15bn) into its UK business over the next five years. The company plans to expand with new office space, as ServiceNow significantly grows its employee base beyond its current headcount of 1,000 employees. In addition, ServiceNow will invest in the future of AI in the UK by expanding its London and Newport data centres with Nvidia GPUs for local processing of LLM data and offering new skills programmes to reach 240,000 UK learners. The announcement was made as part of today’s International Investment Summit, as Prime Minister, Keir Starmer, brings together 300 industry leaders to catalyse investment in the UK.

ServiceNow’s AI platform connects people, processes, data, and devices to increase productivity and maximise business outcomes. Last month, the company launched its Xanadu platform release with more than 350 new AI innovations. Today, 85% of the Fortune 500 and more than half of the FTSE100 rely on ServiceNow to reduce the complexity across their business and power their productivity. In the UK, ServiceNow works with leading organisations including BT Group, Aston Martin Aramco Formula One(R) Team, and hundreds of public sector bodies, including NHS and the Department for Work and Pensions.

Rachel Reeves, Chancellor of the Exchequer said: “This investment is a huge vote of confidence in the UK’s tech and AI sector, and is exactly the kind we want to see as we grow the economy.

“That’s what the International Investment Summit is all about too. Showing global investors and business that Britain is open for business.”

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.”

Leading the UK’s AI revolution

ServiceNow’s recent AI Maturity Index, developed in partnership with Oxford Economics, found that 85% of UK businesses plan to increase investment in AI in the next year. As the demand for AI solutions continues to grow, ServiceNow plans to bring Nvidia GPUs to its UK data centres, based in London and Newport, to support UK processing of data on its LLMs. Today’s commitment also supports increased computing capacity in ServiceNow’s UK data centres, powering domain specific LLMs for UK customers and governments.

Hena Jalil, MD, Business Digital, BT Group said: “AI will enable our teams to provide our customers with better products and services, faster. So, we warmly welcome this AI investment from ServiceNow into the UK which also underscores the UK's position as an attractive destination for innovation.”

As the AI revolution impacts the way we work, ServiceNow is engaged in upskilling talent to meet the needs of the future workplace. Through its new global initiative, ServiceNow University, ServiceNow has committed to reaching 240,000 UK learners by 2027, helping them to unlock the value of the Now Platform and put AI to work for career growth. Through current partnerships with Northeastern University and local partners such as Randstad, QA and Sparta Global, there are currently nearly 30,000 UK learners engaged in ServiceNow skills learning, supporting them in reaching new career opportunities with ServiceNow’s vibrant ecosystem.

Scaling success with an award-winning culture

ServiceNow’s rapid growth in the UK extends to its employee base, which has more than doubled in size over the past five years to surpass 1,000 employees. ServiceNow will continue to expand its headcount across all roles to support AI innovation and adoption in the region.

Damian Stirrett, Group Vice President and General Manager, UK and Ireland, ServiceNow said: “The extent of ServiceNow’s growth in the UK speaks to the demand for solutions that can simplify the world of work for any employee, in any role, in any industry. The speed of change and innovation is continuing to accelerate. For British businesses, we need to leverage the opportunity of AI to keep pace and close the productivity gap. With this investment to grow our team, our offices and our ecosystem, we are excited to play an active role in the country’s path to prosperity.”

To meet the needs of its growing team, ServiceNow plans to invest in expanded office space in the UK. The company currently has offices in Staines and Central London, and its award-winning culture remains front and centre. ServiceNow is proud to have been awarded first place in UK Great Places to Work 2024. It has also been recognised for its efforts in diversity, inclusion and belonging by WorkingMums and, most recently, named a Best Place to Work for Disability Inclusion in the UK.

Championing purpose-led impact

Fulfilling its purpose to make the world work better for everyone, ServiceNow has also been an active contributor to local charitable and sustainability projects. This includes supporting Plan International’s work to help children impacted by natural disasters, a grant and peat moss restoration project with the National Trust UK, and working to reduce fashion waste with ChangeX. With nearly $1million in cash grants awarded in the UK to date, ServiceNow will donate a further $1.5million in grants to local non-profit organisations over the next five years.

Use of forward-looking statements

This release contains “forward-looking statements” about the expectations, beliefs, plans, and intentions relating to ServiceNow’s planned expansion and investment in the United Kingdom. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. We undertake no obligation, and do not intend, to update the forward-looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include unanticipated increased expenses or potentially reduced investment figures; impacts on anticipated sales or investment opportunities and/or challenges in establishing suitable digital skills frameworks.

Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.

About ServiceNow

ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: www.servicenow.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241014473369/en/

Media contact

Maria Di Martino

Director UK&I Corporate Communications

press@servicenow.com

Source: ServiceNow

FAQ

What is ServiceNow's (NOW) investment plan for the UK?

ServiceNow (NOW) plans to invest $1.5bn (£1.15bn) into its UK business over the next five years, expanding office space, growing its employee base, and investing in AI infrastructure and skills programmes.

How many UK learners does ServiceNow (NOW) aim to reach with its AI skills programmes by 2027?

ServiceNow (NOW) aims to reach 240,000 UK learners with its AI skills programmes by 2027 through its global initiative, ServiceNow University.

What percentage of FTSE100 companies use ServiceNow's (NOW) platform?

More than half of the FTSE100 companies rely on ServiceNow's (NOW) platform to reduce complexity across their business and power their productivity.

How is ServiceNow (NOW) expanding its AI capabilities in the UK?

ServiceNow (NOW) is expanding its London and Newport data centres with Nvidia GPUs for local processing of LLM data, supporting UK processing of data on its Large Language Models (LLMs).