Trump announced major AI infrastructure investment
On his first full day in office, President Donald Trump unveiled a massive private-sector artificial intelligence (AI) infrastructure project.
In his speech at the White House, Trump announced that SoftBank, OpenAI and Oracle have teamed up to build data centers to power AI in the US for a project called StartGate.
Then-President-elect Donald Trump speaks during the House GOP conference call Nov. 13, 2024, in Washington. (Alison Roberts/Pool via AP, File) (Alison Roberts/Pool via AP, File) / AP Newsroom)
The CEOs of all three tech companies — OpenAI’s Sam Altman, Oracle’s Larry Ellison and Softbank’s Masayoshi Son — joined Trump in the Roosevelt Room for the announcement.
The initial investment for the project will be 100 billion dollars, with plans to expand it to 500 billion dollars in the next four years. The first data center was built in Texas and will eventually expand to other states.
“It’s the biggest AI infrastructure project in history,” Trump said.
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Before his second term, Trump had been working to boost private business investment in the US. Last month, Son joined Trump in announcing SoftBank’s plans for a $100 billion investment in the U.S. aimed at creating 100,000 new jobs.
A White House official told Fox Business that since the election, Trump has now secured $1 trillion in private investment in projects for America.
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In the year As a candidate in 2016, Trump promised to push a $1 trillion infrastructure bill through Congress. In the year He spoke about the subject several times during his first term as president from 2017 to 2021, but it never came to fruition.
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His democratic successor, joe biden, He signed a $1 trillion infrastructure bill through 2021 with Republican and Democrat lawmakers to fund thousands of projects to rebuild roads and bridges and fund new climate resilience and broadband initiatives.
Then-President Joe Biden speaks during an event in the South Courtroom of the Eisenhower Executive Office Building at the White House on October 23, 2023 in Washington, DC. During the event, Biden talked about how his administration is “Bidenomics”. (Anna Cashier/Getty Images/Getty Images)
The second Trump administration and the new Congress will have opportunities to put their stamp on the infrastructure legislation that Biden passed. Agency officials can. A prize of ten billion dollars On remaining competitive aid, the Brookings Institution said in a blog post in November.
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Meanwhile, Trump has signed dozens of executive orders since taking the oath of office on Monday, advancing his administration’s goals from illegal immigration to withdrawing from the World Health Organization.
Edward Lawrence of Fox Business, Paul Steinhauser of Fox News Digital and Reuters contributed to this report.
