U.S. News: Industry Commits To AI Investment

"Some of the world's most prominent names in technology are pledging to pour as much as half a trillion dollars into building artificial-intelligence infrastructure in the U.S., in the latest high-profile initiative timed with the start of the Trump administration.

The joint venture, dubbed Stargate, is led by ChatGPT maker OpenAI and global tech investor SoftBank.

It will build data centers for OpenAI.

Database company Oracle and United Arab Emirates state-backed investor MGX are also equity partners in the venture.

The companies are committing $100 billion to the venture and plan to invest as much as $500 billion over the next four years.

The plans, key elements of which remain vague, were announced Tuesday at a White House ceremony with President Trump.

The $100 billion sum includes projects that the companies already announced and initiated under the Biden administration, people familiar with the matter said.

If it is realized, the deal would be large even by Silicon Valley standards and underscores the extent to which tech companies and government officials are betting on AI as the future of the American economy.

It also shows how much tech executives want to broadcast their enthusiasm at the start of the new administration.

OpenAI Chief Executive Sam Altman, SoftBank CEO Masayoshi Son and Oracle Chairman and Chief Technology Officer Larry Ellison went to the White House for the announcement on Tuesday, the second day of the second Trump administration.

Stargate's first data center will be in Texas. The site, which started construction last year, will be operated by Oracle and used by OpenAI, a person familiar with the project said.

The companies didn't disclose how much cash each partner would contribute. OpenAI has raised billions of dollars but still loses money. Oracle has about $11 billion in cash and marketable securities but more in debt. SoftBank has roughly $30 billion of cash on hand.

OpenAI said it would operate the venture, while SoftBank will finance it. Stargate will have a separate board and hire a new CEO. SoftBank's Son will be chairman.” [1]

And in Lithuania, everyone, from the fat fascist Kasčiūnas to the stupid Minister of Defense and the banker Nuosėda, screams that they want a lot of money. For what? To buy golden spoons for the army. So many years have passed since the communist regime, and we, Lithuanians, only know how to steal. It is not for nothing that the Americans do not trust us and do not allow us to buy Nvidia artificial intelligence chips without limits, which are necessary to create a modern Lithuanian economy.

1.  U.S. News: Industry Commits To AI Investment. Seetharaman, Deepa; Dotan, Tom.  Wall Street Journal, Eastern edition; New York, N.Y.. 22 Jan 2025: A3.