This kind of science/tech investment is and has been catnip for UK government, regardless of political party, for years. They're out of ideas to stimulate growth, and AI is their hail Mary. No one involved seems to be able to explain why it will work.
From what I gather the UKians have a real chip on their shoulders from being left out of every tech revolution of the recent decades (chips, EVs and assorted green energy tech, rockets and now AI)
Chips like those designed by Arm that can be found in almost everything these days?
AI like DeepMind?