Donald Trump announces: US to invest $500 billion in artificial intelligence sector

US President Donald Trump held a press conference on the matter with the participation of OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman Larry Ellison.

Announcing that OpenAI, Oracle, and SoftBank will form a joint venture called Stargate, Trump stated that at least $500 billion will be invested in US artificial intelligence infrastructure through this joint venture.

Describing the investment as 'the largest artificial intelligence infrastructure project in history,' Trump noted that it is expected to create jobs for more than 100 thousand Americans.

Stating that he would help facilitate the investment through emergency executive orders, Trump said:

'They need to generate a lot of electricity, and we will make it possible for them to do this production very easily at their own facilities.'

Trump said, 'Stargate will build the physical and virtual infrastructure to support next-generation developments in the field of artificial intelligence, and this will include the construction of massive data centers.'

WILL ELON MUSK BUY TIKTOK?

On the other hand, Trump was asked whether he would be open to Elon Musk purchasing TikTok.

The US President expressed that he is open to the idea of Musk or Oracle Chairman Larry Ellison purchasing the company.

At the end of the meeting, Trump, who also stated that he could download TikTok to his phone, remarked:

'We won the youth vote. I think I won thanks to TikTok, so TikTok has a special place in my heart.'

In line with the US investment plans, the artificial intelligence sector is likely to undergo radical changes. Previously, the US had reported that investment plans were being prepared for Nvidia, headquartered in Taiwan, to begin developing its computer technologies in the US.

These plans were announced following Nvidia's introduction of its first artificial intelligence-based computer.

Speaking at the meeting organized by Trump, Oracle Chairman Ellison shared the information that the first of the group's data centers is currently under construction in Texas.