Month: May 2025

Artificial intelligence systems could account for nearly half of all power consumption in global datacentres by the end of this year, according to new research — fuelling growing concerns over the environmental impact of AI technologies.
The analysis, conducted by Alex de Vries-Gao, founder of the Digiconomist tech sustainability platform, suggests that AI could represent up to 49% of total datacentre energy use by the end of 2025. The study is due to be published in the energy journal Joule and comes just days after the International Energy Agency (IEA) forecast that AI could require nearly as much electricity by the end of the decade as Japan consumes today.
Based on electricity drawn by chips from major AI hardware providers including Nvidia, AMD, and Broadcom, the research estimates that AI currently accounts for around 20% of total datacentre energy consumption — already a significant slice of the 415 terawatt hours (TWh) used by data centres globally last year, according to the IEA (excluding cryptocurrency mining).
De Vries-Gao factored in variables such as hardware efficiency, cooling systems, and workload intensity to estimate AI’s growing share of demand. He warns that the pace of expansion in AI hardware and model training could soon drive AI-specific energy consumption to 23 gigawatts — more than twice the total power usage of the Netherlands.
“These innovations can reduce the computational and energy costs of AI,” said De Vries-Gao. “But efficiency gains can also encourage wider adoption — and ultimately more energy use.”
The analysis comes amid a rapid surge in sovereign AI initiatives, with countries investing in their own AI infrastructure — a trend likely to increase global hardware demand. One example cited is Crusoe Energy, a US-based startup that recently secured 4.5GW of gas-powered capacity for new datacentres, with OpenAI reportedly a potential customer via its Stargate joint venture.
On Thursday, OpenAI confirmed the launch of its first Stargate facility outside the US, in the United Arab Emirates. De Vries-Gao warned such developments could exacerbate dependence on fossil fuels, undermining the green ambitions of leading AI companies.
Both Microsoft and Google have admitted that their aggressive AI expansion efforts are threatening their internal environmental targets, as the energy footprint of AI workloads grows beyond projections.
Despite growing concerns, De Vries-Gao said data on AI’s operational power consumption remains scarce, calling the sector “an opaque industry.” While the EU AI Act will soon require companies to disclose training energy consumption, it does not mandate reporting on the energy used to run AI models daily — which is increasingly a major contributor to ongoing emissions.
“We urgently need more transparency on the energy cost of AI,” said Prof Adam Sobey, sustainability director at the Alan Turing Institute, the UK’s national AI research body.
Sobey added that although the front-end energy consumption of AI is high, the technology could still play a role in reducing carbon emissions elsewhere, particularly in sectors such as transport and energy, where AI-powered optimisation tools can lead to significant savings.
“I suspect we don’t need many very good use cases to offset the energy being used on the front end,” Sobey said.
As governments, investors, and companies push further into AI development, the findings underscore the need for greater visibility, regulation, and innovation to balance AI’s transformative promise with its growing environmental footprint.
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AI could consume nearly half of global datacentre power by year-end, new analysis warns

In a dramatic departure from its traditional focus on calorie counting and group weigh-ins, WeightWatchers has announced a new strategic partnership in the UK with CheqUp, a provider of GLP-1 weight-loss medications such as Wegovy and Mounjaro.
The move marks a major shift for the iconic brand, which is now aligning itself with the booming market for anti-obesity injections.
The partnership comes just weeks after WeightWatchers filed for Chapter 11 bankruptcy protection in the US, a move driven by mounting debts and a declining customer base, as more people turn to medication rather than meal plans for weight loss.
Under the agreement, CheqUp patients prescribed GLP-1 medications will gain access to a customised version of the WeightWatchers app, designed specifically to support those on weight-loss injections. The platform offers expert-guided food recommendations, aimed at reducing medication side effects like nausea while promoting healthy, sustainable weight loss.
“The data is clear — our members on obesity medications who also participate in our nutritional and behavioural lifestyle programme lose 11% more weight on average than those using the medication alone,” said Scott Honken, Chief Commercial Officer at WeightWatchers.
The company, which rebranded as WW in 2018, once boasted celebrity backers including Oprah Winfrey, who became its most high-profile advocate and shareholder. But earlier this year, Winfrey announced she was leaving the company and donating her shares, shortly after revealing that her own weight-loss was achieved through the use of anti-obesity medication — rather than WW’s points-based programme.
The move to embrace weight-loss drugs is a major pivot for WeightWatchers, a brand that for decades was synonymous with non-medical, behavioural approaches to dieting. Its structured food plans, branded cookbooks, ready meals, and community-based meetings were once at the heart of the global weight-loss movement. But rising demand for prescription injections — backed by clinical trials showing significant weight loss — has changed the landscape.
GLP-1 drugs like semaglutide (Wegovy) and tirzepatide (Mounjaro) are rapidly transforming how both patients and providers approach obesity. Despite recent enthusiasm, studies have also shown that weight tends to return once medication is stopped unless accompanied by long-term lifestyle changes — a gap WeightWatchers is aiming to fill.
“There is no doubt that the addition of WeightWatchers’ breakthrough GLP-1 companion programme will add enormously to our patients’ ability to achieve sustainable weight loss,” said James Hunt, Deputy CEO of CheqUp. “It combines science-backed tools with a global community of like-minded individuals.”
The UK partnership mirrors a similar strategy being rolled out in the US, as WeightWatchers bets its future on becoming the lifestyle partner to the global weight-loss drug industry — offering coaching, nutritional advice, and behavioural support to patients who are now choosing medication over meal plans.
While GLP-1 drug uptake in the UK remains limited compared to the US, obesity experts have urged the NHS to accelerate access to the treatments to address Britain’s growing obesity crisis — linked to rising cases of diabetes, cancer, and cardiovascular disease.
As the company shifts away from its legacy diet model, WeightWatchers is gambling that its next chapter lies not in telling people what to eat, but in supporting them through medical weight loss with the right tools and community.
Whether this reinvention will be enough to revive the brand’s fortunes remains to be seen, but one thing is clear: WeightWatchers has officially entered the age of prescription weight loss.
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WeightWatchers pivots from diets to drugs in UK partnership with anti-obesity treatment provider CheqUp

Fast-growing self storage operator Pink Storage has completed a £1.5 million investment into a newly acquired site in Nottingham, marking the latest milestone in its ambitious UK expansion strategy.
The deal includes the £1.1 million acquisition of StoreWise, a 102-unit storage facility situated on a 1.3-acre site, alongside an additional £370,000 earmarked for upgrades. The investment will bring the site in line with Pink Storage’s technology-first, customer-centric model, and includes plans to add 150 new units, significantly boosting capacity and access for customers in the East Midlands.
With the acquisition, Pink Storage’s network has grown to 22 locations nationwide, representing a 22% increase in its portfolio this year alone.
The former StoreWise facility is already undergoing a comprehensive rebrand, with Pink Storage’s signature pink livery set to take over by the end of September 2025. While works are ongoing, the site remains fully operational, with no disruption to current customers.
Planned upgrades include resurfaced roadways, automated number plate recognition (ANPR), 24/7 CCTV surveillance, and instant digital access via online sign-up and secure PIN codes — part of Pink Storage’s mission to offer one of the most accessible and technologically advanced storage solutions in the UK.
Around 100 existing StoreWise clients are being smoothly transitioned to Pink Storage’s platform, and the company has retained the site’s longstanding manager, who brings more than a decade of industry experience to the role.
“This acquisition is the latest step toward becoming the UK’s most accessible and technologically advanced self storage provider,” said Scott Evans, CEO and founder of Pink Storage.
“By investing, expanding, and combining our expertise with StoreWise’s strong local presence, we’re delivering an upgraded storage experience in the East Midlands. Our goal is to finish 2025 with an even broader footprint across the UK.”
The Nottingham site is the fourth new location added to Pink Storage’s estate this year, strengthening its reach in the Midlands and North of England. The company has signalled it is actively seeking further acquisition opportunities, encouraging storage business owners considering a sale to come forward.
With a focus on digital convenience, scalable growth, and regional investment, Pink Storage is positioning itself as a major player in the next generation of UK self storage — one that blends user-friendly technology with on-the-ground expertise.
The acquisition underscores Pink Storage’s continued momentum in a rapidly evolving sector, where convenience, security, and seamless digital access are becoming central to customer expectations. The company’s leadership says it remains committed to further growth, driven by smart investments and strategic expansion into underserved regions.
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Pink Storage expands into Nottingham with £1.5m investment following StoreWise acquisition

The UK government is considering selling the Sevington border control post in Kent, a facility built for post-Brexit customs checks, following this week’s UK-EU trade pact that could render dozens of similar sites redundant.
Constructed in 2021 at a cost of tens of millions, the Sevington site near Ashford was designed to process up to 1,300 lorries per day, primarily for sanitary and phytosanitary (SPS) checks on products like meat, dairy, and plant-based goods. However, the new trade agreement between the UK and the EU is expected to eliminate the need for routine health and veterinary certification on a wide range of goods, from fresh produce and timber to wool and leather.
The Department for Environment, Food & Rural Affairs (Defra) is now understood to be in discussions with private sector players to offload the site. According to reports in the Financial Times, the government has approached Eurotunnel as a potential buyer. The Port of Dover, which has held longstanding interest in the facility, is also said to be in the running.
“Clearly there is a lot of detail to work through on how that’s to be implemented and we’re keen to continue our discussions with government for what this means for the BCP at Sevington,” said Doug Bannister, Chief Executive of the Port of Dover.
Sevington is just one of over 100 border control posts (BCPs) built or upgraded in the wake of Brexit, many of them with government funding or built to government specifications to prepare for the expected volume of import checks. But with the UK-EU deal promising to streamline or remove many SPS checks, up to 41 of these facilities may now be surplus to requirements.
One of the starkest examples is Portsmouth’s £25 million BCP, which may have to be demolished. The site — built at the UK’s second busiest cross-Channel terminal — features air-lock quarantine zones, 14 lorry bays, and 8,000 sq metres of inspection space, designed to handle 80 checks per day. But since opening in April 2023, it has averaged just three checks daily due to the Conservative government’s previous relaxation of post-Brexit import rules.
It remains unclear whether all checks will be scrapped under the new UK-EU agreement. Live animal inspections and other high-risk goods may still require dedicated facilities. A final decision on which BCPs will be mothballed or sold is likely to depend on how the deal is implemented in practice over the coming months.
In a statement, a government spokesperson said: “This government committed in its manifesto to negotiate an agreement to prevent unnecessary border checks, remove red tape for businesses and help tackle the cost of food — which is what we have delivered on.”
Eurotunnel declined to comment, while industry stakeholders await clarity on which facilities may be retained, sold, or shut down entirely.
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Government considers selling Kent Brexit border checkpoint amid EU trade deal shake-up

Artificial intelligence continues to dominate venture capital headlines — and cheques — but a new report from Silicon Valley Bank (SVB) warns the surge in AI investment is masking a growing divide in the startup ecosystem, with many non-AI ventures starved of capital and so-called ‘zombiecorns’ now on the rise.
According to SVB’s State of Enterprise Software report, published Tuesday, AI-focused venture funds accounted for 40% of all U.S. VC fundraising in 2023, up from just 10% two years earlier. In enterprise software alone, AI startups attracted 45% of investment, compared to just 9% in 2022.
Much of this is being driven by megadeals — funding rounds of $100 million or more — with AI giants like OpenAI and Anthropic capturing nearly half of all cash raised in the category.
“Exclude AI investment and the story changes,” the report warns. “There is no meaningful uptick for companies not leveraging AI, with investment from this group essentially flat for the last year.”
The wider market continues to suffer from tight exit conditions, a hangover from the inflation surge and interest rate hikes that began in late 2021. While there are signs of life in the tech IPO market — eToro’s recent Nasdaq debut and Hinge Health’s upcoming listing offer some encouragement — momentum remains largely concentrated in AI.
AI infrastructure firm CoreWeave, for example, saw 420% revenue growth in its first earnings report as a public company, sending its stock up 56% in a week. But similar IPO successes remain few and far between, especially outside of the AI space.
Many of the biggest AI players, including OpenAI, Anthropic, Perplexity, and Scale AI, have no immediate plans to go public, despite commanding sky-high private valuations. Their continued appetite for billions in infrastructure investment — with no near-term returns — has made it difficult for venture firms to realise gains, leaving little left to support startups in other sectors.
This imbalance has helped fuel the rise of the ‘zombiecorn’ — a term SVB uses to describe startups that have raised substantial capital but lack sustainable revenue growth or viable business models.
“Many run the risk of ending up in no man’s land,” the report notes.
Tom Glason, CEO and co-founder at ScaleWise, said the report highlights a growing problem in the AI investment boom.
“The SVB report highlights a harsh truth: the AI boom has fuelled a wave of overfunded startups that look healthy on the surface, but are commercially hollow underneath,” Glason said. “These so-called ‘zombiecorns’ raise huge rounds but fail to build sustainable revenue or viable unit economics.”
Glason argues that too many founders are mistaking capital raised for market traction — a costly error in a market that increasingly demands disciplined go-to-market strategies, not just product hype.
“The gap is widening between well-funded AI startups and those actually ready to scale,” he added. “In today’s market, growth alone isn’t enough. Without a clear Ideal Customer Profile, repeatable sales motion, and structured execution, even the most hyped AI company risks becoming a cautionary tale.”
Hopes that President Trump’s return to the White House would boost the startup scene — via tax cuts and deregulation — have been tempered by his aggressive new tariff policies, announced in April. Several companies have already delayed planned IPOs in response to the uncertainty.
SVB, now part of First Citizens Bank following its collapse in 2023, concludes the report by saying that a return to robust exit activity is essential to reignite venture returns and fuel the next wave of startup growth.
For now, though, AI remains the hottest ticket in town — but one that increasingly risks burning out those who mistake funding for fundamentals.
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AI cash boom masks rise of ‘zombiecorns’ as funding gaps widen in startup ecosystem

Sweeping tax reforms proposed by President Donald Trump in his so-called “One, Big, Beautiful Bill” could significantly increase the costs associated with global mobility for US-based employers and internationally mobile employees, according to audit and advisory firm Blick Rothenberg.
Among the headline changes is a proposed incremental tax hike on income earned by residents of countries with “unfair tax regimes”, starting at 5% and rising to 20%. The implications for multinational companies and globally mobile individuals could be substantial — especially without forward planning.
“This isn’t just a headline change — it’s a significant concern for global employers and employees,” said David Livitt, Partner at Blick Rothenberg.
Who could be affected?
The proposed changes would affect a wide range of internationally connected individuals and businesses, including:

Former US residents with US-sourced income: Those who continue to receive bonuses, stock payouts, or deferred compensation after leaving the country may face higher tax rates, despite no longer being resident.
Employees on tax equalisation plans: These plans, common in global mobility programs, ensure the employer covers the tax bill for overseas assignments. If tax rates go up, assignment costs increase — potentially undermining the viability of future international postings.
Employees moving to the US mid-year: People relocating to the US partway through the year may not gain full tax residency immediately, exposing part-year income to higher tax rates.
Employees leaving the US at year-end: Those who depart during a tax year might find income earned post-departure, such as stock vesting or bonuses, taxed at elevated rates.

“These rules mean individuals could be taxed more harshly simply based on the timing of income — or where they live when it’s paid,” Livitt explained. “In many cases, it’s the employer who foots the bill through tax equalisation.”
What can companies do?
Livitt stressed the importance of early planning, urging companies to take a proactive approach before the new tax regime potentially kicks in by 2026.
Key recommendations include:

Timing payments wisely: Advance bonus or stock payments into 2025, ahead of the higher rates. This is especially useful for employees relocating or receiving trailing income.
Review stock vesting schedules: Where RSUs or stock options are set to vest in early 2026, consider accelerating them into 2025 to avoid triggering higher marginal rates or additional foreign income surtaxes.
Consider alternative stock compensation: Issuing Incentive Stock Options (ISOs) could be a more tax-efficient method than non-qualified options, though companies must factor in alternative minimum tax implications.
Defer income past 2026 (where feasible): For employees entering lower-tax phases — such as post-assignment or post-retirement — deferring income could mitigate exposure.
Maximise tax-efficient benefits: Making the most of employer-sponsored tax-sheltered plans can shield more income in high-tax years, easing the burden for both employee and employer.

Act now, plan ahead
“These proposed changes could have a significant impact on mobile workforces and highly compensated employees,” Livitt concluded. “Now is the time for proactive planning to stay ahead of what could be a very different tax landscape in 2026.”
With Trump’s tax package gaining political traction, companies with globally mobile teams may need to rethink how they structure compensation, plan assignments, and manage tax risk — or risk facing unexpected financial and compliance challenges in the years ahead.
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Trump’s proposed tax changes could sharply raise costs for globally mobile US employees and businesses

London-based battery tech start-up Sention Technologies has raised £3.7 million in a seed funding round to accelerate the commercialisation of its cutting-edge diagnostic tools for the battery industry.
The round, led by Twin Path Ventures, attracted backing from a strong line-up of energy and AI-focused investors, including Doral Energy-Tech Ventures, Endgame Capital, Energy Revolution Ventures, G.K. Goh Ventures, Green Angel Ventures, Third Sphere, and the UK Innovation and Science Seed Fund.
Founded with the aim of tackling battery inefficiencies and safety concerns, Sention has developed a proprietary ultrasonic scanning technology that allows users to “listen” inside batteries and produce 3D visualisations of their internal structure. When paired with advanced machine learning models, the platform can predict battery health, forecast degradation, and flag critical safety risks like thermal runaway.
The company says the new capital will be used to bring its Senturion benchtop ultrasound device and Sentinel, its AI-powered diagnostics software, to market. Funds will also support R&D on a third product — Sentry — designed for real-time diagnostics on live production lines.
Sention’s CEO, Professor Dan Brett, called the raise a “significant milestone” and said the company’s mission is to deliver real impact to a battery industry grappling with high failure rates, product recalls, and a lack of reliable, non-invasive testing tools.
“Batteries are transforming the way we live and leading us toward Net Zero, but they come with challenges,” Brett said. “This investment will enable us to deliver our products to customers, making a real difference in the battery industry.”
Twin Path Ventures said Sention’s approach — combining machine learning with electrochemical insights — has the potential to “transform the way batteries are developed, manufactured and used.”
With battery quality control under increasing scrutiny across the energy storage and electric vehicle markets, Sention’s platform promises to reduce scrap rates, improve performance, and enhance safety for battery manufacturers, developers and integrators.
The company has already seen strong early interest and will use the funding to expand its team and scale operations ahead of broader commercial rollout.
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Sention Technologies secures £3.7m seed round to revolutionise battery diagnostics

The UK’s banking industry is urging the government to extend new legal protections for retail workers to branch staff in banks and building societies, warning that they face similar risks of abuse, violence, and intimidation.
A proposed new standalone offence for assaulting retail workers is being introduced under the government’s crime and policing bill, currently progressing through Parliament. The measure — first promised by the previous Conservative administration and now adopted by Labour — would make it a specific criminal offence to assault retail workers, with offenders facing up to six months in prison and/or an unlimited fine.
However, UK Finance, the trade body representing the banking sector, has said the bill excludes bank and building society staff, despite a reported 10,503 incidents of abuse in branches last year.
“This exclusion unfairly discriminates against branch staff,” UK Finance said in its submission to Parliament. “Like other customer-facing workers, they deserve to feel safe at work. Assaults on bank staff should carry the same consequences.”
Bank branches, it argued, play a unique role on the high street, often dealing with emotionally charged situations tied to people’s personal finances, security, and aspirations.
UK Finance also pointed to increased protest activity targeting bank branches over environmental and geopolitical issues.
Several Barclays branches were vandalised last year by pro-Palestinian activists alleging ties to companies supplying weapons to Israel. Protesters disrupted the bank’s AGM earlier this month waving Palestinian flags.
HSBC and Standard Chartered have also seen their UK headquarters targeted by climate activists over fossil fuel financing, raising concerns about the safety of staff and customers during demonstrations.
“Protests against banks who lend to defence companies are regularly large and violent,” UK Finance said. “Innocent branch staff or members of the public are being put at real risk of harm.”
While common assault is already an offence under UK law, the retail sector successfully lobbied for a dedicated charge, citing rising incidents of violence and abuse.
The government under Rishi Sunak initially resisted, but reversed its position before the last election. Although that legislation was dropped during the dissolution of Parliament, the new Labour government has revived the proposal with a standalone offence focused on retail workers.
A Home Office spokesperson said: “Nobody should be attacked whilst at work and this government is taking robust action to tackle shop theft and protect retail workers.”
But for banking staff, the lack of inclusion in the proposed offence leaves them legally exposed, despite dealing with similar — and often more volatile — public-facing scenarios.
UK Finance is now calling for amendments to the bill to ensure branch staff receive the same legal protections as their retail counterparts.
As workplace violence and protest-related threats rise across the financial sector, industry leaders argue that all public-facing employees deserve equal protection under the law — regardless of whether they sell groceries or handle personal savings.
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Banks demand equal protection for staff as retail worker assault law moves forward

British business leaders have welcomed the UK’s latest post-Brexit trade deal with the EU, calling it a vital step towards restoring trade stability, while also warning of key challenges ahead — particularly around regulatory alignment and future sovereignty.
The agreement, seen as a reset in the UK-EU relationship, includes removal of many border checks on British food exports and steps toward greater collaboration in energy markets, tourism, and youth mobility.
The British Retail Consortium (BRC) praised the deal, especially its provisions to ease trade in perishable goods. Helen Dickinson, the BRC’s chief executive, urged the UK government to consider closer alignment with EU environmental and product safety standards, saying this would further reduce friction and benefit exporters.
Similarly, the hospitality and tourism sectors backed the agreement’s inclusion of a proposed “youth experience scheme”, which could allow young people to live and work more freely across the continent — a key issue post-Brexit.
“This is a very welcome step forward,” said UKinbound, which represents the inbound tourism sector. But the group added a note of caution: “The devil is in the details.”
Kate Nicholls, CEO of UK Hospitality, called for maximum flexibility in the scheme, suggesting the UK “mirror existing agreements with Australia and New Zealand.”
While supportive of the trade progress, the National Farmers’ Union (NFU) warned against excessive “dynamic alignment” — the mechanism under which the UK would commit to staying in sync with future EU rules.
Tom Bradshaw, NFU president, highlighted areas where the UK should retain regulatory independence, such as gene editing in agriculture.
“Full dynamic alignment comes at a significant cost of committing to future EU rules in which the UK will have little say,” Bradshaw said.
He emphasised the need for “equivalency” over “harmonisation”, to protect both innovation and competitiveness in UK farming.
The energy sector reacted positively to the deal’s commitment to explore re-entry into the EU internal energy market, from which the UK was previously excluded post-Brexit.
Alistair Phillips-Davies, CEO of SSE, welcomed closer integration, saying it could lower clean energy costs and improve the UK’s global competitiveness.
Energy UK’s chief executive, Dhara Vyas, called the deal a “step change” in the relationship between the UK and its closest trading partner.
“The energy industry has long called for closer collaboration on carbon pricing and electricity trading,” she said.
Although views differ on how closely the UK should mirror EU regulation, the overall reaction from industry has been one of cautious optimism.
Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), said: “Businesses do not need more politics — they need progress. This deal allows firms on both sides to breathe a sigh of relief with practical commitments to improve regulatory co-operation, bolster defence, and pursue mutual net-zero goals.”
With cross-sector support for pragmatic progress and friction reduction, the deal is being widely seen as a turning point in post-Brexit UK-EU relations. But as future negotiations unfold — especially around dynamic alignment — the government will face growing pressure to balance economic opportunity with regulatory sovereignty.
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British businesses welcome UK-EU trade deal but raise concerns over regulatory alignment