- Rolls-Royce CEO Tufan Erginbilgiç is highly bullish on AI and what it can do for the company
- Not to be confused with the luxury car division, which is now a subsidiary of BMW, Rolls-Royce has been largely focused on engineering and aerospace
- Rolls-Royce has signed deals with the U.K. and Czech governments to provide SMRs or small modular reactors
Rolls-Royce CEO Tufan Erginbilgiç is highly bullish on AI and what it can do for the company in terms of boosting its position to become the U.K.’s most valuable company, as per a BBC report.
Not to be confused with the luxury car division, which is now a subsidiary of BMW, Rolls-Royce has been largely focused on engineering and aerospace. The company provides aircraft engines for Boeing 787 and Airbus A320, which is its largest business segment. It also provides reactors used to power nuclear submarines.
Rolls-Royce to provide the U.K. and Czech Republic with SMRs
Rolls-Royce signed deals with the U.K. and Czech governments to provide SMRs or small modular reactors, which are considered to be a smaller version of nuclear reactors and easier to build. AI has been known to consume lots of energy, and nuclear sources have been identified as a suitable resource to help power it.
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“There is no private company in the world with the nuclear capability we have. If we are not market leader globally, we did something wrong,” said the CEO to the BBC.
Erginbilgiç took over as CEO in January 2023 and, since then, has been involved in reducing debt and increasing profitability. The company has seen the highest level of growth in share price under Erginbilgiç’s tenure.
Source: Google Finance
