Trump announces $500 billion private-sector investment in AI infrastructure, creating over 100,000 jobs.

From Investing.com: 2025-01-21 22:47:31

U.S. President Donald Trump announced a private sector investment of up to $500 billion for AI infrastructure, with companies like OpenAI, SoftBank, and Oracle joining forces to create Stargate. $100 billion has been committed immediately, with the rest to follow in the next four years, creating over 100,000 jobs.

SoftBank CEO, OpenAI CEO, and Oracle Chairman joined Trump at the White House for the Stargate launch. The project will see construction of 20 data centers in Texas, each half a million square feet, to power AI technology for various applications, including healthcare.

The project announcement comes after the rollback of an executive order on AI by former President Joe Biden, as AI technology requires massive computing power. The U.S. power grid may face challenges meeting the increased demand from AI data centers and electrification projects in the coming years.

Oracle shares surged 7% on news of the Stargate project, with other tech companies like Nvidia, Arm Holdings, and Dell also seeing an increase in their stock prices. Investment in AI has been on the rise since the launch of ChatGPT in 2022, as companies seek to integrate AI into their products and services.



Read more at Investing.com: Trump announces private-sector $500 billion investment in AI infrastructure By Reuters