Trump Announces $500 Billion Private Sector Investment to Boost Artificial Intelligence
U.S. President Donald Trump (L), Jan. 21, 2025. X/ @ReutersBiz
January 22, 2025 Hour: 11:57 am
OpenAI, SoftBank, and Oracle plan to create a joint venture called ‘Stargate,’ which will begin with a data center in Texas.
On Tuesday, President Donald Trump announced a private sector investment of up to $500 billion to build artificial intelligence (AI) infrastructure in the United States.
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The AI companies OpenAI, SoftBank, and Oracle plan to create a joint venture called “Stargate,” which will begin with an investment in a data center in Texas and later expand to other states.
“Remember that name, Stargate, because you’re going to hear it a lot,” said Trump, who believes this investment will create “hundreds of thousands” of jobs in his country.
He also emphasized the importance of boosting investment in artificial intelligence to address competition with China, which is making significant investments in the sector.
“We want this technology to remain in our country. China is a competitor, and in the future of technology, we want it to stay here. China is a competitor, and so are others. We want this here,” Trump stressed.
On Tuesday afternoon, after Trump made these remarks, SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle CEO Larry Ellison arrived at the White House. They will initially invest US$100 billion and allocate up to US$500 billion over the next four years, according to Son, who stated that Artificial General Intelligence and Artificial Superintelligence will match or surpass human capabilities.
This is the “beginning of a new era” for AI, with advances that could lead to significant progress in the medical field, Son said, highlighting that investments in this area could facilitate a cure for cancer.
Oracle is one of the leaders in data centers and one of the fastest-growing companies thanks to the AI boom and its investments in data center energy efficiency. Meanwhile, the Japanese multinational SoftBank is one of the most well-connected technology investors in the world.
Since OpenAI launched ChatGPT in 2022, investment in AI has increased, and companies across various sectors have incorporated this technology into their products and services.
teleSUR/ JF Source: EFE
