By Sam Nussey and Anton Bridge TOKYO (Reuters) -SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.
President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.
President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.
U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together
Last month, Trump announced with SoftBank's Son in Mar-a-Lago that SoftBank would invest $100 billion in US projects over the next four years, creating 100,000 jobs. Those investments will focus on infrastructure that supports AI, including data centers, energy generation, and chips, according to a source.
Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.
Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.
Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.
Stocks are approaching records in the first couple of days of Trump's presidency, with more pronounced moves in specific corners of the market this week.
SoftBank in India, like in many other parts of the world, is known for its investment in budding startups in various technologically driven avenues. On Wednesday, January 22, the company shares soared in the equity markets in Tokyo. The shares of the Japanese investment group rose after getting a much-needed boost from an unlikely source.
Billionaire investor Stanley Druckenmiller told CNBC this week that optimism surrounding the U.S. market and business outlook is reaching "giddy" levels in boardrooms. Judging by Wall Street's boom, that giddiness is being mirrored across trading floors.