Shares of US-based technology company Oracle surged as much as 6.5% in late-afternoon trading following a CBS News report indicating that President Donald Trump plans to announce billions of dollars in private sector investment to expand America's artificial intelligence infrastructure.
Sources say OpenAI, Softbank, and Oracle will be part of the joint venture called "Stargate." The heads of the tech firms plan to invest $100 billion, then up to $500 billion over four years, in building AI infrastructure across the US.
SoftBank CEO Masayoshi Son, Sam Altman of OpenAI, and Larry Ellison of Oracle will be in the White House on Tuesday afternoon. There were no further details about the Stargate JV, except with the understanding that more information will be unveiled later.
According to sources, Stargate will begin with a massive data center in Texas, with additional AI projects planned across other states. Other investors are expected to join the venture.
About a year ago, The Information reported that Microsoft and OpenAI were planning to invest $100 billion in data centers known as Stargate. The report also highlighted how OpenAI sourced cloud infrastructure from Oracle. It's unclear if this effort was tied to the current Stargate JV.
Also, it remains unclear if Masayoshi Son's plan for SoftBank Group to invest $100 billion in projects in the US over the next four years is part of the effort.
Trump stated last month after a meeting with Son that investments in building AI infrastructure would create 100,000 jobs.
*Developing...
Take a look at the news today about Trump’s AI investment bombshell, a story which is breaking at CBS News and in the conservative media at Zero Hedge. Below is an excerpt from the Zero Hedge version - (see above) -
Forget the practical issues with this policy, such as the fact that we already have a shortage of water and electric power in this country, two things that these massive data-collection centers consume with unmatched voracity. We will get what’s left over, and pay higher prices for it.
Trump is putting together the most impressive, intimidating public-private partnership the world has ever seen to realize his dream of creating a supersized AI.
Biden was used by the globalists to break down the country so that Trump could put it back together again — build back better in the image of the World Economic Forum’s vision for a Great Reset and all-powerful digital beast system. He is building the infrastructure of the future “algocracy,” or rule by algorithm. Where everything and everyone is tagged, tracked and measured. Where every life is allotted a value based on their consumption vs their production. Where 15-minute cities will lack nothing in their quest to control the movement of people. Where paper cash is a quaint memory, and the same for your plastic ID. Where wallets are virtual and digital, not something you can put in your pocket.
I don’t believe President Trump knows what he is doing. I believe he would shutter if he could see the future he is going to make possible through AI. Trump truly thinks he is just going about the business of making America great again through technological advancement. But he is a tool of the technocratic/transhumanist elites. This is why Elon Musk, Peter Thiel, Mark Zuckerberg, Jeff Bezos, and so many other technocrats are groveling at Trump’s feet. They see a super-popular political figure with a vision of greatness for America that can be co-opted by their vision for the world and humanity 2.0. And when Trump’s done with his mission, another more sinister man will come on the stage to weaponize his works.
Mark it down.
Or, as technocrats have openly speculated, perhaps we won’t need a president or political leaders of any kind in the future. AI will run the country, and the world.
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