Trump announces up to $500 billion in AI infrastructure investment

By Steve Holland

(Reuters) -U.S. President Donald Trump connected Tuesday announced backstage assemblage concern of up to $500 cardinal to money artificial quality infrastructure.

OpenAI, SoftBank (TYO:) and Oracle (NYSE:) program a Texas-based associated task called Stargate, and person committed $100 cardinal initially and past up to $500 cardinal to Stargate implicit the adjacent 4 years.

SoftBank CEO Masayoshi Son, OpenAI's Sam Altman and Oracle's Larry Ellison joined Trump astatine the White House for the launch.

The announcement connected Trump's 2nd time successful bureau follows the rolling backmost of erstwhile President Joe Biden's enforcement bid connected AI, that was intended to trim the risks artificial quality poses to consumers, workers and nationalist security.

AI requires tremendous computing power, pushing request for specialized information centers that alteration tech companies to nexus thousands of chips unneurotic successful clusters.

"They person to nutrient a batch of electricity, and we'll marque it imaginable for them to get that accumulation done precise easy astatine their ain plants if they want," Trump said.

As U.S. powerfulness depletion rises from AI information centers and the electrification of buildings and transportation, astir fractional of the state is astatine accrued hazard of powerfulness proviso shortfalls successful the adjacent decade, the North American Electric (NASDAQ:) Reliability Corporation said successful December.

As a campaigner successful 2016, Trump promised to propulsion a $1 trillion infrastructure measure done Congress but did not. He talked astir the taxable often during his archetypal word arsenic president from 2017 to 2021, but ne'er delivered connected a ample investment, and "Infrastructure Week" became a punchline.

Oracle shares were up 7% connected archetypal study of the task earlier successful the day. Nvidia (NASDAQ:), Arm Holdings (NASDAQ:) and Dell (NYSE:) shares besides rose.

It was not instantly wide whether the announcement was an update to a antecedently reported venture.

In March 2024, The Information, a exertion quality website, reported OpenAI and Microsoft (NASDAQ:) were moving connected plans for a $100 cardinal information halfway task that would see an artificial quality supercomputer besides called "Stargate" acceptable to motorboat successful 2028.

Investment successful AI has surged since OpenAI launched ChatGPT successful 2022, arsenic companies crossed sectors question to integrate artificial quality into their products and services.