Login
iscover
Share this article on:
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUMMEDIA
Newly inaugurated US President Donald J. Trump has wasted no time getting started, not the least of which announcing a US$500 billion private sector AI infrastructure investment.
OpenAI CEO Sam Altman, Oracle CEO Larry Ellison, and SoftBank CEO Masayoshi Son joined Trump in announcing the new investment plan, which will see all three countries undergo a joint venture called Stargate, according to Trump.
“What we want to do is we want to keep it in this country,” said Trump.
“China is a competitor, others are competitors. We want to be in this country, and we’re making it available.”
While details of the new joint venture are scarce, the three executives are expected to commit US$100 billion initially and then as much as US$500 billion over the next four years. Additional investors are expected to join, but it is unclear who they may be.
“I’m gonna help a lot through emergency declarations, because we have an emergency, we have to get this stuff built,” said Trump.
“So they have to produce a lot of electricity. And we’ll make it possible for them to get this production done easily, at their own plants if they want.”
Trump claims that the new project would create “over 100,000 American jobs almost immediately”.
According to sources speaking with CBS News, Stargate is set to begin with a Texas Data Centre project before expanding into other states. In the announcement, Ellison said that 10 data centres were already being built in Texas.
“AI holds incredible promise for all of us, for every American,” Ellison said.
All three CEOs said that AI technology could be key in dealing with healthcare issues, such as discovering cures for diseases.
“I believe that as this technology progresses, we will see diseases get cured at an unprecedented rate,” said Altman.
Be the first to hear the latest developments in the cyber industry.
