Trump Announces $500 Billion Investment in US AI Infrastructure
17
World
January 22, 2025 01:30
united states - President Trump reveals plans for a $500 billion private sector investment in artificial intelligence infrastructure. OpenAI, Oracle, and SoftBank to establish a joint venture named Stargate.
US AI Infrastructure Investment
President Trump announced a groundbreaking $500 billion investment in the US artificial intelligence (AI) infrastructure. The collaboration between OpenAI, Oracle, and SoftBank will result in the establishment of a joint venture named Stargate. The President, accompanied by OpenAI's CEO Sam Altman, SoftBank's CEO Masayoshi Son, and Oracle's Chairman Larry Ellison, held a press conference to discuss the initiative.
President Trump emphasized that the investment, labeled as the largest AI infrastructure project in history, is expected to create over 100,000 jobs for Americans. He highlighted the importance of emergency decisions in facilitating the investment process, stating, 'We will make it easy for them to generate a lot of electricity and do this production very easily in their facilities.'
Stressing the significance of the project, Trump explained, 'Stargate will build physical and virtual infrastructure to support new advancements in the field of AI, including the construction of massive data centers.' Oracle's Chairman Ellison added that the group's first data center in Texas is already under construction.
Considering Imposing 10% Tariff on China
In response to questions from reporters, Trump reiterated the administration's contemplation of imposing a 10% tariff on China for the fentanyl they export, in addition to the fentanyl coming from Mexico and Canada. The President expressed his dissatisfaction with the flow of drugs into the US and highlighted the significant role of tariffs in addressing this issue.
Elon Musk's Interest in Acquiring TikTok
When asked about Elon Musk's interest in acquiring TikTok, Trump indicated that Musk and Oracle's Chairman Ellison are open to the idea. Trump also mentioned his personal sentiment towards TikTok, stating, 'We won the votes of the youngsters. I think I won because of TikTok, so TikTok has a special place in my heart.'