The Business

How did Raspberry Pi turn a credit card-sized computer into one of the biggest success stories in British tech business? And has the world jumped to conclusions when it comes to investing in AI data centres?

In this episode of The Business, Raspberry Pi co-founder and chief executive Eben Upton joins Hannah Prevett on stage at The Times Tech Summit to discuss why the company chose to manufacture and list in the UK, and what domestic technology firms must consider as they scale.

Eben first developed the low-cost computer during his studies at the University of Cambridge to provide hands-on programming experience for computer science students. Fifteen years later, Raspberry Pi has grown into a cornerstone of the UK tech industry.

When Raspberry Pi floated on the London Stock Exchange in 2024, Upton went against the grain of UK tech companies listing abroad. He explains why listing on the London stock market was the right strategic move for the business, how UK firms can successfully attract international capital without abandoning Britain, and what expanding domestic production means for the wider UK economy.

“We build in the UK, not 'cause we're patriotic, but because it's the best place to build. And we listed in London, not because we're patriotic, but because it was the best place to list.”

Upton also shares his candid view on current tech industry valuations, questioning the scaling and investment into AI data centres. “ It's four years after ChatGPT launched, right? And we have jumped to this conclusion about deployment of capital, really probably faster than the evidence supports. “

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This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today to get full digital access.

This episode is sponsored by PwC.

Guest:
Eben Upton, co-founder and chief executive of Raspberry Pi
Presenter:
Hannah Prevett, associate business editor at The Sunday Times

Producer: Hope Federico
Executive Producers: Miriam Hall and Emily Leahy
Image: Getty
Get in touch: thebusiness@thetimes.com

More from The Times
Memory chip shortage is boosting profits at UK’s Raspberry Pi
Is it worth buying a slice of Raspberry Pi?
AI can’t live without data centres. Locals can’t live with them

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Can Nvidia survive the explosive scandal engulfing chief executive Jensen Huang, or will the fallout trigger a wider crash across the AI boom?

In this episode of The Business, Dominic O’Connell looks at the bombshell confession from Nvidia boss Jensen Huang regarding his affair with a businesswoman suspected of being linked to Chinese intelligence services. With the company's board launching an urgent inquiry, we examine whether the silicon giant's leadership is untenable.

Dominic is joined by Louisa Clarence-Smith, US business editor for The Times, and Maike Currie, vice-president of personal finance at PensionBee, to break down how volatility at Nvidia could reverberate across the global stock market. Will tremors in the tech industry knock UK investor confidence, affect the FTSE and impact capital flows for British business?

Ultimately, they ask: what is next for Huang, and the company he has shepherded to global dominance?

"I think what is interesting here is that this is not just about an embarrassing personal relationship or infidelity - but what we've got here is the issue of national security,” PensionBee’s Maike Currie said on the show. “We know that the US and Washington, specifically, have been very focused on protecting its AI technology and its AI chips from reaching China … this is a race between China and America who is going to dominate.”

Nvidia has said it “prioritises US national and economic security, which is paramount to the interests of Nvidia and its shareholders”. In announcing its investigation, it said while the board had “no reason to believe that either national security or Nvidia secrets were compromised”, it would examine “all available information”. Jensen Huang has made a public apology to his family and his colleagues, and said he will co-operate with the company investigation.

This episode is sponsored by PwC.

Guests:
Louisa Clarence-Smith, US business editor, The Times
Maike Currie, vice-president of personal finance, PensionBee

Presenter:
Dominic O’Connell, Times columnist and Times Radio business correspondent

Producer: Hope Federico
Executive Producer: Miriam Hall and Emily Leahy

Get in touch: thebusiness@thetimes.com

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today to get full digital access.

More from the Business
IPOs Go ‘Mega’ – Should We Be Worried?
Synthesia CEO: Europe is a "Trust Fund Kid"

More from the Times
Nvidia takes $300bn hit after boss Jensen Huang admits affair
Who is Alice Huang? The Nvidia scandal explained
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Can the UK lead the world in sustainable aviation fuel?

In this episode of The Business, Dominic O’Connell is joined by Andrew Symes, chief executive of British start-up OXCCU, to explore how an old technology could hold the key to the future of flight.
Sustainable aviation fuel, made from renewables, waste materials and captured carbon dioxide could play a huge role in air travel’s future and limiting its damage to the environment.

The UK government has mandated increasing amounts of sustainable aviation fuel into the standard jet fuel blend, rising to 10 per cent by 2030. Yet today's global supply remains limited, expensive, and dependent on imported waste fats.

OXCCU believes it has found an answer. By reviving an old chemical technology, the company bypasses the energy-intensive and costly steps usually associated with synthetic fuel.

Andrew Symes explains why commercial aviation cannot rely purely on battery electrification, how their technology unlocks domestic supply for the UK economy, and what it will take to scale sustainable aviation fuel production into commercial airlines and international global trade.

Could British business innovation lead the race to decarbonise aviation?

If you enjoyed this episode, make sure to press follow at the top of your podcast app.

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today to get full digital access. This episode is sponsored by PwC.

Guests:
Andrew Symes, chief executive of OXCCU

Presenter:
Dominic O’Connell, Times Radio business correspondent

Producer: Hope Federico
Executive Producers: Emily Leahy and Miriam Hall
Video Producer: Superllama
Image: Getty
Get in touch: thebusiness@thetimes.com

More from The Times
The man on a mission to fuel flights with food waste
Dirty secret of green fuel shortages to push up cost of flights
Michael O’Leary: Air fares could rise by 20% next year

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How did bounce-back loans end up in the hands of fraudsters? And can the government ever recover the lost funds?

When the Covid bounce-back loan scheme was launched in May 2020, it was intended as an emergency lifeline for small and medium-sized British businesses. Issuing 1.2 million loans totalling £47 billion, it was the largest of the Covid-related business loan initiatives.

While it was rolled out rapidly, it is now embroiled in scandal. The countless cases of fraudulent activity cost billions of taxpayers’ money.

In this episode of The Business, James Hurley, The Times assistant business editor, and George Greenwood, The Times investigative reporter, join Hannah Prevett to lift the lid on the bounce-back loans scandal.

George and James first broke the bounce-back loans story in 2021, and continue to track the ongoing fallout: from disqualified company directors to criminal convictions.

Could these pricey mistakes have been avoided? And what lessons could be learnt?

When asked about their lending being higher risk Starling Bank has said: “The majority of this lending was to eligible micro-businesses with single directors, many of which were relatively young businesses." They added: “Direct comparisons [with] other lenders are difficult, given limitations of the data, the different characteristics of each lender’s customer base, and the maturity of the scheme.”

When asked about the guarantees being repaid Starling Bank has said they: “identified a group of loans made before April 2021 which potentially did not comply with a guarantee requirement”.
These were loans where the bank’s “own procedures did not have strict adherence to the scheme rules around all the checks that have to be made”.

If you enjoyed this episode, make sure to press follow at the top of your podcast app, so you never miss an episode. This episode is sponsored by PwC.

Guests:
George Greenwood, The Times investigative reporter
James Hurley, The Times assistant business editor

Presenter:
Hannah Prevett, The Sunday Times associate business editor

Producer: Hope Federico
Executive Producers: Miriam Hall and Emily Leahy
Video Producer: Superllama
Image: Getty
Get in touch: thebusiness@thetimes.com

More from The Times
Government ‘dangerously flat-footed’ about recovering Covid fraud
Starling takes a £28m hit from Covid bounce back loans
Suitcases of Covid loan cash seized at UK’s borders

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What does Chancellor John Healey's 2026 budget mean for business?

In this episode of The Business, Dominic O’Connell is joined by Dan Neidle, founder of Tax Policy Associates, and Shevaun Haviland, director general of the British Chambers of Commerce, to unpack an Autumn Budget designed to give British people ‘breathing room’.

At the despach box the chancellor said: "Too many people feel this country isn't working well for them, and in particular, households and businesses face challenges from rising energy costs due directly to the conflict in the Middle East. In the face of that, what matters is how we respond as a government. And my choice in the budget today is to give families and businesses some breathing space now, and to begin the radical reform of energy to reduce bills in the future."

They examine how the Chancellor plans to balance short-term household relief with long-term economic growth. We break down the cash ISA U-turn, capital gains tax adjustments, and the new Founders’ Relief, dissecting the practical realities for British business owners and leaders.

They also explore the devolution of business rates, and what this Autumn Budget means for high streets facing mounting costs.

The Business is sponsored by PwC

Guest:
Shevaun Haviland, Director General of British Chambers of Commerce
Dan Neidle, founder of Tax Policy Associates
Presenter:
Dominic O’Connell, Times columnist and Times Radio business correspondent

Producer: Hope Federico
Executive Producer: Miriam Hall and Emily Leahy
Image: Getty
Get in touch: thebusiness@thetimes.com

More from The Times
Budget 2026 key points: a summary of the highlights
What the budget means for you

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Diesel Crisis: Is UK facing a rationing threat?
Taylor Wimpey: Can Labour fix the UK’s broken housing market?
Can Labour really reindustrialise Britain?

Hosted on Acast. See acast.com/privacy for more information.
Hosted on Acast. See acast.com/privacy for more information.