Jeff Bezos’ artificial intelligence (AI) lab Project Prometheus is reportedly in talks to lease office space in London’s King’s Cross area. This signals continued interest from AI companies like OpenAI and Anthropic to expand their footprint in the UK. According to a Financial Times report, people familiar with the matter claim the AI startup is discussing a deal for three floors at the Jellicoe Building, covering nearly 38,000 square feet. The move comes shortly after Prometheus raised $10 billion in funding at a reported valuation of $38 billion. The company is focused on developing AI systems that can understand the physical world and support their use in the engineering and manufacturing sectors.
How the UK may be a growing hub of AI companies
The potential expansion adds to a growing trend of AI companies setting up larger offices in London as they scale operations. Recent research from real estate advisory firm CBRE Group estimated that AI-led companies could occupy as much as 4 million square feet of office space in London by 2033, up from nearly 1.5 million square feet currently.
That would account for nearly 43% of all unleased office space currently under development in central London, according to the company.
Demand from AI companies has picked up significantly over the past year after a quieter period for the broader technology sector.“You don’t have to see many of those businesses coming over for it to be a really positive story for London,” said Michael Wiseman, head of campuses at British Land. Meanwhile, Mike Gedye of CBRE Group said smaller AI firms are increasingly securing office spaces early to prepare for future expansion.
“What’s notable compared to previous cycles is the speed of growth. They may be landing and taking 15 or 20 seats in a co-working space, but within 12 to 18 months, they’ve scaled into traditional offices and are taking more and more footprint,” he added.Project Prometheus joins a growing list of AI companies expanding in London. Anthropic recently signed a lease for 158,000 square feet at One Triton Square, a property owned by British Land.OpenAI, which currently employs around 200 people in London, has taken 88,500 square feet at Regent Quarter in King’s Cross. The office space reportedly has room for up to 544 employees.In January, Scale AI also announced that it would move its international headquarters to 2 Pancras Square, taking up 11,000 square feet, which is nearly four times the size of its earlier office in Soho.Meanwhile, ServiceNow is set to occupy more than 50,000 square feet at EDGE London Bridge, a new office development expected to be completed later this year.Property developer Great Portland Estates said AI-related tenants now make up nearly 12% of its office portfolio and over a quarter of its flexible workspace business. The company has also pre-leased more than 52,000 square feet at The Delft near Borough Market to Quantexa in the UK.Despite concerns that enthusiasm for AI could slow, Great Portland Estates chief executive Toby Courtauld said demand for office space from the sector remains steady due to the need for “high value locations.”
