US President Donald Trump announces USD 500 billion investment in AI infrastructure-Read

Over 100,000 American jobs will be created, almost immediately: Trump

Washington: US President Donald Trump announced a USD 500 billion investment in AI infrastructure through a new company, which is being created in partnership with Oracle, SoftBank and Open AI.

The venture, called Stargate, adds to tech companies’ significant investments in US data centres, huge buildings full of servers that provide computing power. The three companies plan to contribute funds to the venture, which will be open to other investors and start with 10 data centres already under construction in Texas.

“That’s a massive group of talent and money. Together, these world-leading technology giants are announcing the formation of Stargate,” Trump announced on Tuesday at a White House news conference along with Oracle Chief Technology Officer Larry Ellison, Softbank CEO Masayoshi Son, and Open AI CEO Sam Altman.

“So, put that name down in your books because I think you’re going to hear a lot about it in the future, a new American company that will invest USD 500 billion at least in AI infrastructure in the United States and very quickly, moving very rapidly, creating over 100,000 American jobs almost immediately,” said Trump who was sworn in as the 47th President of the United States on January 20.

This monumental undertaking is a resounding declaration of confidence in America’s potential under a new president, he said. “It will ensure the future of technology. What we want to do is keep it in this country. China is a competitor and others are competitors,” he added. Begin immediately, Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI, Trump said.

“They’re making their choices of locations. I think they have their choice. I’d like to ask Larry, Sam and Masa to say a few words and just talk a little bit about what they’re doing and if you have any questions and then we’ll go into a couple of other subjects also. But this is, to me, a very big thing, a USD 500 billion Stargate project,” he said. Ellison said they certainly couldn’t do this without Trump.

“It would simply be impossible. AI holds incredible promise for all of us, for every American. We’ve actually been working with Open AI for a while and with Masa for a while. The data centres are actually under construction,” he said.

“The first of them are under construction in Texas. Each building is half a million square feet. There are 10 buildings currently being built, but that will expand to 20, and other locations beyond the Abilene location, which is our first location,” he added.