Trump to announce up to $500 billion in private sector AI infrastructure investment
Source: CBS News
Politics
Trump to announce up to $500 billion in private sector AI infrastructure investment
By Jennifer Jacobs
Updated on: January 21, 2025 / 1:38 PM EST / CBS News
President Trump is set to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the United States, CBS News has learned. ... OpenAI, Softbank and Oracle are planning a joint venture called Stargate, according to multiple people familiar with the deal.
SoftBank CEO Masayoshi Son is expected at the White House Tuesday afternoon, along with Sam Altman of OpenAI and Larry Ellison of Oracle.
Executives from the companies are expected to say they plan to commit $100 billion initially and pour up to $500 billion into Stargate over the next four years. Other details of the new partnership were not immediately available.
Spokespeople for SoftBank and OpenAI declined to comment.
{snip}
Read more: https://www.cbsnews.com/news/trump-announces-private-sector-ai-infrastructure-investment/
https://thehill.com/homenews/administration/5098477-watch-live-trump-infrastructure-announcement/
Administration
Watch live: Trump infrastructure announcement
by TheHill.com - 01/21/25 3:15 PM ET
{video player}
President Trump is expected to make an infrastructure announcement on Tuesday, one day after he was sworn in for a second term and signed a flurry of executive actions.
Trump's remarks are expected to begin at 4 p.m. EST.
Watch live in the video player above.
Autumn
(46,997 posts)Bengus81
(7,712 posts)Kick back $50 billion to Trump..............
Autumn
(46,997 posts)niyad
(121,583 posts)PortTack
(35,111 posts)Escurumbele
(3,697 posts)because that could be a great opportunity for him "if they don't steal the money first"...
milestogo
(18,871 posts)Deuxcents
(20,597 posts)sheshe2
(88,942 posts)It is trickle
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down
Escurumbele
(3,697 posts)to those who contributed to his campaign, inauguration and most probably offer him "commissions" for doing this, but for the rest of us, it should open opportunities, if done right, which is always a big IF with these crooks.
I hate to say this but, I read a lot of complaining here in DU, but we need to stop complaining and do many things to win this battle, because it is a battle against Democracy.
1. Lets take on the opportunities that open up for all of us, there may not be plenty, like the one being discussed on this post, so the more reason to jump at them ASAP. I for one intend to take some AI classes online.
2. Because we are all aware of the gross evil actions these people are going to carry out, then lets make sure everyone learns about them, lets make sure that with our efforts we help to open people's eyes so that come next election all these crooks are out of office.
3. Lets just read the important information that is thrown at us and avoid the "trump did this stupid thing, said this horrible thing, told this lie" because we know that is going to happen, and the more we talk about it, the more strength we give the buffoon.
4. We don't need to tell everyone every day, mostly to trumpists, how we feel about the situation, sometimes silence is the best weapon while we work on the other things I point out here. We can rant here at DU, and exchange our thoughts with peers from the same Democratic party and love for the country, we have DU to do that while not exposing ourselves to retaliation, we must be able to do the things that will get the crooks out of power, no wonder big projects and military projects go on stealth mode until ready.
5. AND MOST IMPORTANT, lets lift our spirits, lets be positive because doing so gives us strength to do the things we need to do to help those who voted for these thugs why they made a mistake. We have four years to get many of those people on our side, and I know they will come because not everyone is that stupid, when people suffer they wake up, we all know people ARE going to suffer due to the draconian actions of these criminals.
Irish_Dem
(62,144 posts)kelly1mm
(5,526 posts)Irish_Dem
(62,144 posts)Ha ha private sector money is being used.
Private sector money is made by ripping off the US taxpayer and consumer.
Anything the rich spend comes from the average guy.
I assure you nothing comes out of their own pockets.
They didn't get rich by giving their money away.
kelly1mm
(5,526 posts)away. They are forming a joint venture.
Bernardo de La Paz
(52,062 posts)Blue_Tires
(57,596 posts)mass transfer of wealth from the government sector to the private sector....
Only then when Donnie has looted the last penny, he'll claim the federal government is insolvent AND THEN he'll have his official justification to seize social security...
Silent Type
(7,880 posts)"Despite these challenges, which he believes could take years to overcome, Cuban doesnt think AI is overhyped. Instead, he emphasized the importance of U.S. investment in the technology, warning that global stability depends on it. Our military dominance, our place in the world depends on our ability to invest in AI, Cuban told Wired. Period. End of story."
in2herbs
(3,370 posts)JustABozoOnThisBus
(23,920 posts)I think the movie was easily worth two stars.
Igel
(36,485 posts)"Warp Speed" wasn't exactly an original coinage.
What did you expect, "ÀIqián" (爱钱 ?
LastLiberal in PalmSprings
(13,053 posts)It just sounds good to him, like "space force" or "tariffs."
BTW, one day a warp speed spaceship may be possible.
24601
(4,045 posts)time to enable both POTUS-elect Biden and VPOTUS-elect Harris to receive their first Covid vaccinations in December 2020. No one can accurately or reasonably argue that Warp Speed didn't save countless lives.
"Outside clinical trials, the first COVID‐19 vaccine was administered on 8 December 2020. Researchers aimed to quantify the global impact of the first year of COVID‐19 vaccination programmes [sic] using mathematical modelling to fit COVID‐19 transmission and vaccination to reported COVID‐19 mortality and all‐cause excess mortality in 185 countries and territories. 1 They determined the number of lives lost if there had been no vaccines. Based on reported COVID‐19 deaths, vaccinations prevented an estimated 14.4 million deaths (95% credible interval [Crl] 13.715.9) from COVID‐19 in a year. However, if excess deaths were used, this estimate rose to 19.8 million (95% Crl 19.120.4) deaths prevented (Fig. 1), equating to a global reduction of 63% in total deaths (19.8 million of 31.4 million) during the first year of COVID‐19 vaccination. Delivery of vaccines to low‐income countries has been far lower than promised. 2 In COVID‐19 Vaccines Global Access (COVAX) Advance Market Commitment countries, an estimated 7.4 million [95% Crl 6.87.7] of 17.9 million excess deaths were prevented, but millions more lives could have been saved with better coverage. COVID‐19 vaccination altered the pandemic course, saving tens of millions of lives globally. However, vaccines had less effect in low‐income countries due to inadequate access, emphasising [sic] the importance of global vaccine equity."
https://pmc.ncbi.nlm.nih.gov/articles/PMC9537923/
yellow dahlia
(796 posts)I used to be a futuristic movie nut.
Crowman2009
(2,929 posts)As opposed to say....facts and logic? I know that doesn't sell according to these dickheads, but boring details get results and don't waste money.
patphil
(7,283 posts)This is a huge payout of taxpayer money to the private sector. How about $50 billion over the next 10 years.
Let them use their own money. It's going to be a huge money maker for the private sector, and we just need to keep our finger in the pie, not buy the whole thing.
in2herbs
(3,370 posts)kelly1mm
(5,526 posts)MichMan
(13,916 posts)The three companies mentioned are investing their own money.
mahatmakanejeeves
(62,374 posts)Trump hasn't changed a bit. It's the same damn word salad you had to put up with in 2017.
Shipwack
(2,393 posts)Our electrical grid is barely keeping pace now with the demands of AI. Improving electrical power and storage would help everyone.
But it wont be spent on that. Not sexy enough. Not enough opportunities to grift.
pfitz59
(11,204 posts)due to deferred Maintenace and reconstruction. I imagine the investors will get tax breaks while reaping all the benefits.
PSPS
(14,262 posts)Rainman4u2C
(19 posts)I'm sure there's a grift in there somewhere but this is supposedly private sector money not tax money.
yellow dahlia
(796 posts)Bengus81
(7,712 posts)Data centers,electrical infrastructure.
Trump claims 100,000 jobs almost "immediately". Sure...just like your Foxconn debacle Trump??
patphil
(7,283 posts)Initech
(103,113 posts)kelly1mm
(5,526 posts)happybird
(5,305 posts)as our power bills keep going up. We'll see how long it takes before we enter the rolling blackout era around here.
Sending my regards from the data center capital of the world.
Yay.
Aussie105
(6,612 posts)in Trump's total destruction of America as we know it.
He's had 4 years to plot his revenge, don't you know!
The Madcap
(824 posts)what do you intend to do with it. If you're wanting to make people's work easier or to use it as a tool to help analyze data better, then fine. It would be worth a large investment. If we're just going to use it to replace workers, leaving real people with no income, then we're heading toward a dead end, literally. If we're just going to make memes and draw six-fingered humans, then we're wasting our time with it.
The curse of technologies like this is that no one seems to know exactly what they want to do with it and then when they do know, they are deathly afraid to communicate it to the masses. If I were a betting man, I'd say they are wanting to replace paid workers with it so they don't have to pay them anymore.
Crowman2009
(2,929 posts)...computing systems.
JohnSJ
(97,074 posts)ancianita
(39,260 posts)What could possibly go wrong.
bluedigger
(17,182 posts)`
bucolic_frolic
(48,219 posts)Trump is the no-government, free market guy!! Don't you know?
This result of this hosing of the taxpayer will be overcapacity and a crash for all AI stocks.
Watching AI stocks tomorrow ... should be a reaction to this largesse.
kelly1mm
(5,526 posts)KPN
(16,268 posts)as if he is responsible for it? Do you think those companies would simply give Trump credit for it without something very significant in return? So what would that be? Perhaps more leverage over future federal policy and stimulus?
kelly1mm
(5,526 posts)you and your companies is probably enough for them to come in and sig his praises.
I am absolutely AMAZED the difference in the business (especially tech) sector comparing 2017 and 2025. The knee is definitely being bent ......
in2herbs
(3,370 posts)and build this AI infrastructure with their own money they should be monitored by the IRS and Congress to make sure that they are not taking any tax advantages, grant money, or other govt funding -- because that's OUR money! Also it shouldn't be allowed to move forward until govt regulations are in place about AI and privacy.
What exactly is their definition of "private money?" And if it's such an altruistic endeavor why didn't they announce it while Biden was president?
Didn't Ellison just lose 10 beachfront houses in the CA fires??
4catsmom
(411 posts)time to get the kickbacks going
azureblue
(2,345 posts)and Trump gets a kick back.
PortTack
(35,111 posts)Yo_Mama_Been_Loggin
(117,834 posts)It masquerades as being intelligent.
LudwigPastorius
(11,421 posts)He'll be miffed that his xAI didn't get a seat at the public trough.
iemanja
(55,306 posts)I'm sure. Cronyism plain and simple.
kelly1mm
(5,526 posts)PRIVATE SECTOR investment, not tax dollars.
The Government takes competitive applications. That's the usual way things are done.
kelly1mm
(5,526 posts)Oracle, SoftBank and Open AI.
iemanja
(55,306 posts)kelly1mm
(5,526 posts)in2herbs
(3,370 posts)tax dollars connect to it.
kelly1mm
(5,526 posts)Ford_Prefect
(8,258 posts)It is quite clear that DJT lives in a fantasy world. Now we'll have the world we live in run by the ultra rich who own the junkware that writes its own stories. A fact free world to suit a fact free dominion. I can hardly wait...No more Gravity and Momentum required.
If you can't stand the sarcasm get out of the kitchen while you still can.
OAITW r.2.0
(29,161 posts)Sounds like a $500BB give away to the people that delivered him the Presidency.
Mr. Scorpio
(73,724 posts)No fate, but the one we make
cstanleytech
(27,292 posts)2naSalit
(94,642 posts)He has that much in his budget nor has Congress allotted close to that much for him to have access to control.
Just like his ego, his imagination is massive.
LiberalArkie
(16,999 posts)Crowman2009
(2,929 posts)It's a total waste of resources that amounts to nothing but stock holder hype.
eppur_se_muova
(37,976 posts)sakabatou
(43,671 posts)mahatmakanejeeves
(62,374 posts)Billionaire says companies behind the project dont have enough money to follow through on pledges
By Brian Schwartz
https://twitter.com/schwartzbWSJ
brian.schwartz@wsj.com
https://www.linkedin.com/in/brianschwartz7/
Updated Jan. 22, 2025 1:08 pm ET
President Trump stood alongside prominent tech executives at the White House on Tuesday to unveil what he called a tremendous and monumental $500 billion artificial-intelligence infrastructure project. Hours later, Elon Musk publicly raised questions about whether the joint venture would ever get off the ground.
Late Tuesday night and early Wednesday morning, Musk wrote on X, his social-media platform, that two of the companies behind the project dont have enough capital to follow through on their pledges.
{paywall}
mahatmakanejeeves
(62,374 posts)By Hadas Gold, CNN
3 minute read Updated 12:59 PM EST, Wed January 22, 2025
{snip}
Sailingdiver
(194 posts)Musk bashes Trump-backed Stargate deal: "They don't actually have the money"
Hours after President Trump announced a major artificial intelligence investment, it faced skepticism from one of his closest allies: DOGE head Elon Musk.
Why it matters: Musk publicly undermining the $500 billion project, led by OpenAI and other tech titans, could draw Trump's ire.
Trump tasked Musk with slashing federal spending with the new Department of Government Efficiency.
The pair's budding relationship has grown more entwined since Trump won back the White House, but this is one of their most public disagreements to date.
What he's saying: "They don't actually have the money," Musk said on X late Tuesday night in response to OpenAI's announcement of the project.
A spokesperson for the White House did not immediately respond to Axios' request for comment on Musk's post.
https://www.axios.com/2025/01/22/stargate-elon-musk-trump-altman-openai-project