President Donald Trump Announces $500 Billion AI Initiative
New AI Investment
US President Donald Trump has announced a $500 billion investment in AI infrastructure through a new company called Stargate, which is being created in partnership with Oracle, SoftBank, and OpenAI. This venture will involve the construction of new data centers to enhance computing power and will be open to other investors.
Partners and Initial Data Centers
The three companies plan to contribute funds to the venture, which will begin with 10 data centers already under construction in Texas. At a White House news conference, Trump announced the formation of Stargate along with Oracle Chief Technology Officer Larry Ellison, Softbank CEO Masayoshi Son, and OpenAI CEO Sam Altman.
Job Creation and National Priority
Trump stated that Stargate will invest at least $500 billion in AI infrastructure in the United States, creating over 100,000 American jobs almost immediately. He emphasized the importance of keeping technology development in the country, citing China and other countries as competitors. He added that Stargate will build the physical and virtual infrastructure to power the next generation of advancements in AI and will include the construction of massive data centers and physical campuses.
Comments from Partners
Oracle's Larry Ellison acknowledged that this initiative would not have been possible without Trump. He said that they have been working with OpenAI and Softbank for a while, and that the data centers, each being half a million square feet, are under construction, with the first location in Texas. He described some of the applications as being able to improve electronic health records and allow doctors to better understand the condition of their patients. SoftBank CEO Masayoshi Son said that his company would immediately start deploying $100 billion, with the goal of making US$500 billion within the next four years, describing this project as the most important of this era. OpenAI CEO Sam Altman stated that the project is exciting, and he is happy it will be developed in the United States.
New Investments
Trump said that he has already secured nearly $3 trillion of new investments in the United States before the end of his first full business day in the White House, and that this figure could reach $6 trillion or $7 trillion by the end of the week. He also noted that tremendous amounts of money are coming in for many things other than even AI, though AI seems to be very popular.
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