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mahatmakanejeeves

(62,374 posts) Tue Jan 21, 2025, 03:58 PM Jan 21

Trump to announce up to $500 billion in private sector AI infrastructure investment [View all]

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.

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Trump to announce up to $500 billion in private sector AI infrastructure investment [View all] mahatmakanejeeves Jan 21 OP

What's his cut of the 500 billion? Autumn Jan 21 #1

Yeah...everything is a GRIFT of some kind. Maybe just a 10% stiphen? Bengus81 Jan 21 #2

He would never settle for 10%. Autumn Jan 21 #4

Is this where his 50 billion memecoin profit came from? niyad Jan 21 #19

You know that 50 billion tanked within hours...something like 60+%. Will fall further in the next few days/wks PortTack Jan 21 #31

Hehe...My 1st thought exactly. I sent the news to a friend of mine who does some AI, told him to enhance his skills Escurumbele Jan 22 #70

Nice to see him helping the poor and the homeless. milestogo Jan 21 #3

Yes, good to see the Bishop's plea for mercy for the people was taken to heart 🙃 Deuxcents Jan 21 #32

He will say.... sheshe2 Jan 22 #47

We need to hope that effort will create jobs in the tech industry, and yes, I am sure most of the money will go Escurumbele Jan 22 #72

$500 Billion grift for his rich friends, but no money for SS, medicare, education, healthcare. Irish_Dem Jan 21 #5

This is private sector money that is funding the project. It is right in the title of the OP. nt kelly1mm Jan 22 #38

Title says investment IN private sector not BY the private sector. It is right in the title. Irish_Dem Jan 22 #57

It is by the 3 companies (Oracle, SoftBank, Open AI). No taxpayer funds. They are not 'giving' their money kelly1mm Jan 22 #59

Muck benefits big time from that govt largesse. He is big into AI, deep, as they say. . . . .nt Bernardo de La Paz Jan 21 #6

It's clear by now that the goal of the entire TFG regime is to perform a Blue_Tires Jan 21 #7

Don't trust trump on this, but Mark Cuban is right that countries that support AI will do best in future. Silent Type Jan 21 #8

Which is Cuban's vision of the world: Bidens or the Oligarchs? in2herbs Jan 21 #26

"Stargate" is a sci-fi movie from thirty years ago. Great originality,, guys JustABozoOnThisBus Jan 21 #9

Meh. Igel Jan 21 #16

I doubt that Felon47 knows what warp speed means, or where it's from. LastLiberal in PalmSprings Jan 22 #45

Its the effect, not the name or its fictional history. What Operation Warp Speed did was develop a Covid Vaccine in 24601 Jan 22 #62

I confess - I saw the movie. yellow dahlia Jan 21 #28

Stargate, The Matrix, 1984, it's as if they base their product on bastardized versions of fuckin' movies. Crowman2009 Jan 22 #64

That's about $450 billion too much. patphil Jan 21 #10

Why shouldn't the govt keep their finger in the whole thing? Privatization is what has gotten us to where we are today. in2herbs Jan 21 #27

This is private sector money only. It is in the title to the OP. $0 taxpayer money. nt kelly1mm Jan 22 #39

What taxpayer money are you referring to? MichMan Jan 22 #68

He finally showed up, an hour and fifteen minutes late. AI seems not too good at winding watches. mahatmakanejeeves Jan 21 #11

Most of that should go for infrastructure... Shipwack Jan 21 #12

Meanwhile PHYSICAL infrastructure is failing pfitz59 Jan 21 #13

LOL. Musk just got a huge "return" on his "investmant" PSPS Jan 21 #14

Here we go again. Rainman4u2C Jan 21 #15

I'm trying to figure out the same thing. yellow dahlia Jan 21 #29

Private sector money for now but plenty of room for grifting later Bengus81 Jan 22 #60

There may be some short term job creation, but AI will undoubtedly result in far more job losses than gains. patphil Jan 22 #69

So we have no money to keep the government running, but we have $500 billion for Trump's AI bros? WTF. Initech Jan 21 #17

This is all private sector money. It is right in the title of the OP. $0 taxpayer money. nt kelly1mm Jan 22 #40

The taxpayers WILL be hit happybird Jan 22 #53

This is just one small step . . . Aussie105 Jan 21 #18

The real question with AI is The Madcap Jan 21 #20

AI is fine as long as it's for scientific/academic research for details that would take forever with current... Crowman2009 Jan 22 #65

Anyone who trusts these people with AI, is playing with fire. JohnSJ Jan 21 #21

As the promoter he'll definitely get a cut of this. They'll run AI as first to market. ancianita Jan 21 #22

The payroll taxes alone will pay off the deficit! bluedigger Jan 21 #23

The private sector and private lending and capital markets are doing fine without government subsidies bucolic_frolic Jan 21 #24

There is 0 tax dollars going into this. It is PRIVATE SECTOR investment. nt kelly1mm Jan 22 #41

So what is Trump giving them in return for him announcing it KPN Jan 22 #48

Having the new 'strong man' leader of the country, who adores adulation over anything, have good vibes about kelly1mm Jan 22 #52

People at this level of income never spend their own money. But, if as they say, they are willing to invest in2herbs Jan 21 #25

surprise, right? 4catsmom Jan 21 #30

to go to Zuck azureblue Jan 21 #33

Everything he touches dies...that goes for the young t-rump as well. PortTack Jan 21 #34

AI is just like Trump Yo_Mama_Been_Loggin Jan 21 #35

Trump's seig heiling little buddy Musk is not going to like that. LudwigPastorius Jan 21 #36

All without a competitive grant process iemanja Jan 21 #37

Why would these private companies need to go through a grant process to spend their own money? This is kelly1mm Jan 22 #42

They do iemanja Jan 22 #43

This is not a government funded or sponsored endeavor. This is a new AI company collaboration between kelly1mm Jan 22 #49

With $500 billion in federal funds iemanja Jan 22 #61

$0 in federal funds. All the funds are coming from the 3 companies. Details are in the article. nt kelly1mm Jan 22 #67

I would like to politely suggest that you read about private sector investments because there are in2herbs Jan 22 #44

Not this one. Fully funded by Oracle, SoftBank and Open AI. It is in the article posted. nt kelly1mm Jan 22 #50

Sounds like Skynet is only a heartbeat away... Ford_Prefect Jan 22 #46

What the fuck is that? OAITW r.2.0 Jan 22 #51

I figure that this is how we'll eventually get SkyNet and Terminators Mr. Scorpio Jan 22 #54

Payment for their support to get him into office. cstanleytech Jan 22 #55

I don't think... 2naSalit Jan 22 #56

I have a feeling Trump is taking credit for Biden's Cancer Moonshot LiberalArkie Jan 22 #58

This corporate-hyped version of AI serves no purpose for the general public. Crowman2009 Jan 22 #63

Great -- taxpayer-funded pro-Putin bots. nt eppur_se_muova Jan 22 #66

I mean, it's not like that money needs to go to roads, buildings, bridges, etc. sakabatou Jan 22 #71

Musk Pours Cold Water on Trump-Backed Stargate AI Project mahatmakanejeeves Jan 22 #73

Elon Musk bashes the $500 billion AI project Trump announced, claiming its backers don't 'have the money' mahatmakanejeeves Jan 22 #74

So typical of the orange idiot, but I'm sure the stupids will fall for it Sailingdiver Thursday #75