President Donald Trump is preparing to announce a major AI investment and joint venture, totaling $500 billion. This investment, driven by OpenAI, Oracle, and Softbank, will impact AI companies of all shapes and sizes. Not surprisingly, shortly after Trump announced this, Oracle stock rose 6%, and Softbank stock increased by about 5%. The joint venture, named Stargate, aims to pave the way for AI advancements in the future
President Trump is adamant that the US be a leader in AI in order to maintain an economic and technical lead against China and other countries. Trump plans on removing AI laws and restrictions put in place by previous President Joe Biden, which will allow for more data centers within the US. Those data centers, however, require an extensive amount of energy, and thus Trump signed various measures in order to provide that electricity and energy. This massive investment would also lead to an increased number of jobs in AI as a whole. Masayoshi Son, the CEO of Softbank, expects that around 100,000 jobs around AI, infrastructure, data centers, semiconductors, and energy will be open in the coming years.What is Stargate Planning on Doing?
Stargate plans on opening the first data centers in Texas, and hopes to expand quickly to other states. While there are many questions surrounding Stargate and exactly what it will be capable of, both OpenAI and Softbank declined to comment on the venture. What we do know, however, is that many other investors and potentially companies are hoping to join Stargate. As AI is exploding in popularity and many see it as the future, it’s no surprise to see Trump investing so much into Stargate.
As a result of Trump’s re-election, many tech and AI companies are trying to get on good terms with the President. Many notable CEOs were present for the inauguration, such as Mark Zuckerberg, Tim Cook, Elon Musk, Jeff Bezos, and Sundar Pichai. This great investment in AI and technology certainly will increase the wealth of tech giants such as Amazon, Alphabet, and Apple, to name a few. What do you think about all these initiatives? Will the greater wealth and technological advancement be worth it to compete with other countries, or should more regulations be put in place to regulate the powerful tools being created? Are these tech leaders seeking to advance AI, or simply growth their personal wealth? Let us know in the comments.
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