Trump announces $500b AI infrastructure investment

US President Donald Trump announced a $500 billion private-sector investment in artificial intelligence infrastructure, led by a joint venture between OpenAI, SoftBank, and Oracle.

The Stargate initiative will establish 20 advanced data centres across the United States, with $100 billion earmarked for immediate use and the rest to be allocated over the next four years.

The project, already underway in Texas, is projected to create 100,000 jobs and support AI-driven advancements in sectors like healthcare. Each data centre will span 500,000 square feet, designed to meet the surging demand for computing power.

The announcement follows the rollback of previous regulations on AI, aimed at expediting energy access for these data centres despite concerns about rising power consumption. The investment highlights the administration’s ambition to outpace global competitors in AI development.

Tech stocks, including Oracle, saw gains following the announcement, reflecting the broader surge in AI investments since OpenAI’s ChatGPT launch in 2022.

Attribution: Reuters

Subediting: M. S. Salama

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