US tech companies to invest $500 billion in AI

 National Review:

President Donald Trump on Tuesday announced a joint venture between three large tech companies to invest as much as $500 billion into building out U.S. artificial intelligence infrastructure.

The joint venture, known as Stargate, involves Oracle, Open AI, and Softbank and will see the companies join together to build out American data centers to power artificial intelligence systems, including ChatGPT. Stargate, which could cost up to $500 billion over a four-year period, will begin with a data center in Texas, a state friendly to crypto and other parts of the tech industry.

“This monumental undertaking is a resounding declaration of confidence in America’s potential under a new president,” Trump said. He appeared relaxed and made several off-the-cuff quips during the press conference.

Trump said he would help the venture speed up production through emergency declarations and predicted that it would create 100,000 American jobs.

CBS News first reported on the announcement ahead of Trump’s press conference. Open AI CEO Sam Altman, Oracle chairman Larry Ellison, and Softbank CEO Masayoshi Son were all present at the White House for the announcement. The companies will initially put $100 billion into Stargate before opening up the venture to outside investors.

Ellison credited Trump for helping make the investment happen and said ten buildings are currently under construction in Texas. Stargate will expand to 20 buildings at its Texas location and then start construction elsewhere, he said.

“We certainly couldn’t do this without you,” Ellison said, as he gestured towards Trump. He explained the importance of AI for electronic health records and allowing doctors to better understand their patients’ condition.

Masayoshi Son, speaking to Trump, said the investment was the beginning of a new golden age and suggested the joint venture might not have happened if Trump did not win the election.

“I think this will be the most important project of this era,” Altman declared. He is “thrilled” to do the artificial intelligence project in the U.S., he said.

Trump asked Altman what he thought AI would do for fighting diseases and Altman replied by predicting that AI would allow for diseases to be cured at a rapid rate. Ellison spoke about how AI is being used to work on a cancer vaccine and to analyze blood tests.
...

With much of this investment in Texas, it continues to show the state as the dominant growth area in the US.  Stargate will be a massive data center for Artificial Intelligence operations.  The buildings are already under construction in Texas.

See also:

Trump Announces Stargate: Texas-Based Investment Combines AI Heavyweights

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