he was joined by larry ellison and softbank's ceo to announce they'll fund star gate. it's a 500 billion data center buildout and they'll helm and president trump trumpeted 100,000 jobs and joint venture says it'll create here in the usa, a flurry of stocks going parabolic on the news. oracle is the big publicly traded partner and up 7.25% and softbank higher by 10.6% and arm, designs the licenses chip architecture and that jordyty owned by -- majority owned by softbank up 14.6%. halo goes wider. ai server ma makers and supermi, dell, and arista and they're up 7% and at all time high. that halo effect though, here's the one thing, it did not reach elon musk. late last night, the tesla spacex and ex-ai chief took to x to bash the initiative claiming "they don't have the money". musk went onto claim softbank doesn't even have 10 billion of the 500 billion secured. musk tries to rain on that parade, take it straight to edward lawrence who's at the white house for the latest on the developing story. a lot of moving parts in the elon piece is pretty interesting. reporter: e

you are seeing that reflected in the surge in the stock price for softbank. we break that story down for you in more detail. european stocks set for fifth straight day of games. up to tens of 1% according to the european futures. ftse futures pointing to gains of 1/10 of 1%. s&p futures looking to add pretense of 1%. the nasdaq could get that left from the ai infrastructure spend plan coming through from the trump administration, currently looking to add 150 points. let's look across asset. treasuries relatively stable. the 10 year still above the 450 level. the japanese yen at 155. we look ahead to the boj meeting. decision on friday. economists expecting that they will hike again. the third hike for a way to. you could see by the end of play friday, the highest interest rates in japan since 2008. 0.5%. brent, $79 per barrel. a little bit of pressure on oil. gold continues to grind higher. for tens of 1% on the session today after rallying 1.4% for the yellow metal yesterday. 2756 per troy ounce. let's crossover to singapore. ondiro: yeah. asia stockades run

so oracle will be in the room, openai will be in the room, softbank will be in the room. the question is exactly how big is the total dollar amount that we're talking about here in terms of this investment, where will this money all go? and one sort of political question is masayoshi son was with donald trump down in mar-a-lago a month ago, promised $100 billion in investment in the united states. does this count toward that, or is this a separate bucket of investment money? in any case, the trump administration sees this as a big win and a way to start off the administration by showing the american voters that trump can deliver on what he said he was going to do which is create jobs, juice the economy and get things going particularly on a.i., which is one of the hottest and most important industries for the future, melissa. >> eamon, i think it's interesting, though, the backdrop of this is that u.s. steel/nippon steel deal was blocked because of security deals, and yet he is opening the gates to foreign investment in another area that can be argued is much more of conc

maria: that is funny and are talking about how much money softbank has on the balance sheet.he talking about the money not being there but is making a commitment. elon musk made a commitment of the $200 billion but to see the back-and-forth between the tech titans is funny. >> it is entertaining. it's almost juvenile but it's funny to watch. as it relates to softbank and whether or not they will be able to secure the funds, i can tell you i've been writing client review meetings the whole month of december i was talking with clients and there is not a single client that i have who is not super excited about investing in artificial intelligence and specifically data centers and all the energy that we need to provide power to the data centers. i will tell you raising $100 billion or $500 billion i think there is a lot of investor interest softbank could open a fund for this and i think they could have the commitments very, very quickly. maria: i agree, what do you think cheryl. >> is interesting kevin o'leary was on the program last year and i remember him telling you at the ti

and i don't trust softbank. he's put billions and billions into achieving singularity because machines are better running this world than human beings so there's a delicate balance that needs to be struck here with this a.i. debate, but going back to that press conference. tour de force, there trump. he's riffing with the press for almost 50 minutes while signing all these amazing executive orders that are really turning, writing the ship for this country in regards to energy and border and immigration and a lot of those executive orders dealt with the administrative state as well and bringing that back into under the duly-elected president. liz: sit tight for a second. let's show the executive orders, please, that president trump is now doing. you know, america is not used to this because biden stayed hidden behind a velvet rope for four years and kept america in the dark. >> well, let's remember. when donald trump was in the white house the first time, he would go and have those little inpromptu press conferen

look at softbank and what they have on hand and everything else, they don't have the money. something we can talk. no. they have a lot of arm. if we want to sell some arms. then you can have the money. >> if you don't ask it that we have not done our jobs. >> i can ask it if you don't want to. >> [ laughter ] we are not a commercial? >> sorry. that does raise the question. >> it's shocking. >> the numbers are going to be extraordinary. we know that. we talk about it every day in terms of what needs to be built to continue to support the infrastructure that needs to be powering all of these a.i. models whether they be the large language models are smaller models or whatever they may be continues. and you're seeing the numbers which are extraordinary. >> well, had there been a we are all our entering we know the numbers are enormous. you want to be in the data center business right now. at some point you may not want to be because perhaps some of these monies will not go for great return. everyone is running to do figuring out how to finance these things. private equity, every

at the white house, oracle and softbank appeared with president trump as he announced that they will enter a joint venture with openai called stargate. stargate will initially open a data centre in texas and be open to other investors, mr trump claims the deal is evident of his success in building america's ai infrastructure. claims the ceos were obtained to endorse. this monument undertaken is a resounding declaration of confidence in america's potential under a new president. let me be a new president, i didn't say what they did. so i appreciate that, fellas _ we wouldn't be able to do this without you, mr president - and we love that we get to. thank you, mr president, we couldn't do this without you. it was suitably impossible. the ambition is for stargate to raise up to $500 million for data centres over the course of mr trump's a second term. one of his first actions on taking office in 2a hours earlier, was to resend his predecessorjoe biden�*s plans for artificial intelligence. let's get more now on some of the other news coming out of the white house as during donald trump's

discuss the future of artificial intelligence with the former boss of japanese technology giant, softbankhello and welcome to business today. i'm steve lai. the latest minutes from the federal reserve show that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation risks on the horizon as donald trump return to the white house. our correspondent has the details. the minutes from the fed meeting in december show officials have adopted a new stance when it comes to interest rate cuts amid upside risks to inflation. policymakers are in no hurry to cut rates and would like to see more evidence that price increases are settling down. the minutes site, fed officials also expressing concern about the impact president elect donald trump's policies could have on efforts to reduce inflation. without calling out trump by name, the meeting summary featured at least four mentions about the effect that changes in immigration and trade policy could have on the us economy. in december, us central bank has cut their benchmark lending rate to a range of 4.25 to 4

discuss the future of artificial intelligence with the former boss of japanese technology giant, softbankhello and welcome to business today. i'm steve lai. in the us, the latest minutes from the federal reserve showed that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation risks on the horizon as donald trump returns to the white house. of the minutes from the fed meeting in the summer show officials have adopted a new stance when it comes to interest rate cuts amid upside i'm steve lai. in the us, the latest minutes from the federal reserve showed �*to that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation cuts this year. they cited rising ii as tion cuts this year. they cited rising ii as donald trump returns horizon as donald trump returns to the white house. of the minutes from the fed meeting in the summer show officials have adopted a new stance when it comes to interest rate cuts amid upside risks to inflation. policymakers are in no hurry to cut rates and would like to see more eviden

the stocks rallied hard last week thanks to softbank saying it was participating in the u.s. ai infrastructure fund. just to show you how the entire ai supply chain is getting forced into a re-think, this week furukawa, this a data center and cable maker seeing steep losses, tep also under pressure today. really that re-think well underway in the asia-pacific. tom: avril in singapore thank you indeed. with a check on the infrastructure around the energy piece in terms of the pressure. does software gain on the back of developments from deepseek? potentially longer-term question. to details, chinese start up has upended global markets, and we saw that in pronounced fashion yesterday as it's cost-efficient ai model is likened to openai in capabilities. the release of r1 has sent shockwaves through the u.s. tech industry leading to reevaluation of the economics of the ai investment boom. let's bring in bloomberg intelligence's robert lea. robert has been following this company about seven months, so he has been ahead of the curve compared to many. is this the multi trillion doll

as well as 0racle, longtime player here, and softbank which is run by masayoshi son, known as masa, andinjapan and he has forged a pretty close relationship with donald trump. but you know, what we heard is talk of infrastructure, talk of building the data centres that are so critical to powering ai and the development of ai. we heard aboutjobs, which you noted, 100,000 jobs being in the works is what we're promised — and i think that's an acknowledgement of a couple of things. first, how difficult it is to do ai alone. right now we have an ecosystem where there are multiple players trying to do this, vying for dominance. but i think ultimately from the federal government's perspective, from the us and from trump's perspective, the key here is to ensure the us is dominant against china in al and i think that's a big part of what this announcement today represents. we will look at the global race to lead in all of things ai in detail in business today later in the programme. let's speak to daniel lippman, politico reporter covering the white house and washington. hello. extremely busy ti

there next to the founder of softbank, so there is going to be a big play for innovation in growth inm the biden approach to ai regulation, which i think is going to pit eu and the us on a really interesting path around how to regulate this most magical of technologies, but a technology which can be hugely dangerous if it is in control rob lee. dangerous if it is in control rob lee-— dangerous if it is in control roblee. a ., ., rob lee. as you say, a magical technology _ rob lee. as you say, a magical technology -- _ rob lee. as you say, a magical technology -- properly, - rob lee. as you say, a magical technology -- properly, that i rob lee. as you say, a magical technology -- properly, that ofj technology —— properly, that of governments around the world are also pursuing. what do you make of the uk announcement, where does it fit in that picture you mentioned, the tensions potentially between the us and the eu? i tensions potentially between the us and the eu?- tensions potentially between the us and the eu? i think uk wants to go — the us and the eu? i think uk wants to go on _ t

mike: there is also a question about where softbank will get this money. they do not have nearly as much of that capital in their books. they will have to go out to investors and solicit some of that. the signals we are getting from marc benioff and from others and from president trump himself is there is continued momentum and that should help bring new capital into the conversation to help fuel what could go into stargate. caroline: this announcement that came yesterday alongside blowout numbers from netflix has helped the nasdaq power higher. big points contributors from netflix but also nvidia, which will be a technology provider to stargate ai infrastructure spend. big offering on the table for the chips needed to be invested in blackwell's future. we are also seeing key contributors from microsoft seen as a technology partner. oracle is a standout performer, more than 7% as analysts get their head around how integral oracle will be as the cloud provider of the future. i remember the tiktok argument, also ongoing. let's go out to davos. bloomberg edit

now the white house, oracle's and softbank appeared with president trump as he announced that they willnter a joint venture with openai called stargate. stargate will initially open a data centre in texas and open to other investors, mr drum claims the deal is evident of his success in building america's ai infrastructure, claims the ceos were obtained to endorse. this monument _ were obtained to endorse. this monument undertaken is a resounding declaration of confidence in america's potential under a new president, let me believe a new president. — president, let me believe a new president, i didn't say what president, ididn't say what they— president, i didn't say what they die _ president, i didn't say what they did. so i appreciate that. we would _ they did. so i appreciate that. we would be able to do this without_ we would be able to do this without you. _ we would be able to do this without you, mr— we would be able to do this without you, mr president l we would be able to do this . without you, mr president and thought— without you, mr president and thought that _ without you,

for softbank to be involved. >> that is new. that is new. and by the way, who are some of the other winners here now that openai is open for business for lack of a better term here? that's because they can go to amazon. to oracle. satya nadella last year said when they build these data centers, about half of the cost goes towards compete. nvidia. hp enterprises. all the guts of these data centers. the other half is the land, the construction, and things like that. so that's where the money's going, really. >> the one thing you want to make sure, you're not playing favorites here. it was microsoft who was in there first. if you want to look at it as a capital market, why are they the only one? now you're getting all the other competitors. >> sit tight. we're not done with this conversation. to me, the story may just be oracle. let's bring in another voice into this conversation. talk about sort of the microsoft impact on this because they're not the only ones involved. a lot of software angles. michael turran from wells fargo. thank you for j

and he also tweeted softbank. which is. >> one of. >> the partners in this. >> whose ceo. >> was standing next to trump during this announcement. >> has well. >> under $10 billion security have that on good authority which. >> obviously you know that's. >> just one part of the $100. >> billion that they have. softbank would need to obviously put up more. >> than that. but as you heard. >> the white house pushed back. >> quite strenuously on this. >> not talking. >> about elon. >> musk directly. >> and i've. >> also actually. spoken to sources. >> involved in stargate. >> and they say. >> just look at the. >> earnings report. >> from softbank. >> the cash. >> on hand. and they. >> tell me that softbank is willing to put on what they called a boatload of. >> debt to also. >> help this. we also heard from microsoft ceo satya nadella. >> talking at davos. >> saying you know i'm good for my $80 billion. >> so kind of responding to musk in this. >> responding, he was asked directly about musk. and altman has also sam al

he says softbank doesn't have the money. sam altman replied on twitter, calling musk's assessment quote, wrong. altman added i realize what is great for the country isn't always what's optimal for your companies. he's talking to elon musk here, but in your new role, i hope you'll mostly put america first. musk was an early investor in ai in openai and has pending legal challenges against sam altman's company. well, here's an interesting story from the stanford campus. the university is dropping its case against a student journalist who was arrested while covering a pro-palestinian rally. stanford confirming today that it will not take any action against that student. this all stems from an on campus pro-palestinian protest last july. dylan gorrell, who was covering it for the stanford daily, followed the protesters as they barricaded themselves in the president's office. those protesters were later arrested. now gorrell was arrested with them, even t thouh he had his press pass. recently, advocacy group advocacy groups led b

he posted that softbank only has $10 billion secured. altman, who is often at odds with musk, responded directly, saying that musk was, quote, wrong. yesterday, ellison said ten ai data centers are already under construction in texas, with ten more in the works. okay, we have your back. that is the message for undocumented immigrants today from political and community leaders in alameda county. it is meant to ease some of the fear created by that flurry of executive orders coming out of the presidential office. nbc bay area's velena jones explains how the group is partnering with leaders and organizations to provide resources to families that are worried. oakland is united today. we are well prepared. we are not scared. we will protect our immigrant families and we will continue to thrive no matter who is president. in alameda county today, state, county, city and community leaders say they're standing united in their goal to fight and protect immigrant families from the president's promise of mass deportations. if you want to arrest us

at the white house, oracle and softbank appeared with president trump as he announced that they willestors, mr trump claims the deal is evident of his success in building america�*s ai infrastructure. claims the ceos were obtained to endorse. this monument undertaken is a resounding declaration of confidence in america's potential under a new president.

the chief executivess of openai, oracle and the japanese investment fund softbank were with the president at the white house on tuesday afternoon to announce they will work together and raise hundreds of billions of dollars for building data centres for artificial intelligence across the us. called stargate, donald trump said the joint venture is a "declaration of confidence in america". michelle fleury has the details. for months, even years, openai, the maker of chatgpt, has been raising finance to build the massive computing power data centres that its artificial intelligence technology needs. in the past, its partner in this project has been microsoft, which is also its largest shareholders. now, openai is bringing other major backers on board. at the white house, oracle's larry ellison 00:00:59,664 --> 2147483051:37:14,546 and softbank�*s masayoshi son 2147483051:37:14,546 --> 4294966103:13:29,429 from japan appeared with also in the programme, trump revokes a biden scheme live from london, this is business today. dominated by the announcements coming from the white house. in artific

the chief executives of open ai, oracle and the japanese investment fund softbank were with the president at the white house on tuesday afternoon to announce they will work together and raise hundreds of billions of dollars for building data centers for artificial intelligence across the us. called stargate, donald trump said the joint venture is a "declaration of confidence in america". michelle fleury has the details. for months, even years, openai, the maker of chatgpt, has been raising finance to build the massive computing power data centres that its artificial intelligence technology needs. in the past, its partner in this project has been microsoft, which is also its largest shareholders. now, openai is bringing other major backers on board. at the white house, oracle's larry ellison and softbank�*s masayoshi son from japan appeared with president trump as he announced that they will enter a joint venture with openai called stargate. now, stargate will initially open a data centre in texas and be open to other investors. mr trump claims the deal is evidence of his success in buildi

trump taking credit for the new commitment by tech companies with the ceos of oracle, openai and softbank by his side. the president saying it will create 100,000 new jobs in the u.s., david. >> david: mary bruce, thank you. we turn to the deadly fire at a popular resort, while hundreds of guests were sleeping. the horror playing out in northwest turkey. the images. this breaking out in the middle of the night. more than 230 guests, some tying bed sheets together, just to try to escape this. here's britt clennett tonight. >> reporter: tonight, dramatic video of guests desperate to escape as their hotel goes up in flames in the middle of the night. watch closely as people use bed sheets tied together to get out. flames can be seen shooting through the windows. the fire breaking out at this popular ski resort in turkey, while many of the 234 guests would have been sleeping. at least 76 people killed when the blaze tore through that 12-story building. some of the guests reportedly attempting to jump to safety. others screaming they don't know how to leave. it's not yet clear what caused the

at the white house, 0racle�*s larry ellison and softbank�*s masayoshi son from japan appeared with

open ai and softbank and oracle plan to launch star gate infrastructure project. they are expected to invest $500 billion in investment to create 100,000 american jobs. many in my home state of texas. first 1 million square foot data center will now be under construction in texas. and i just got to say, why did we ever have to have this, you know, adversarial relationship between the ai and business community? >> brian: lack of trust. >> lawrence: why can't you work with the people? that's what we saw yesterday. i don't know their political leanings, whatever. i really don't care about it. but i care about the country being number one, being innovative, investing in jobs and they were able to do that in a transparent way with the president of the united states. >> ainsley: trump rescinded the executive order that joe biden put on this industry, which means more regulations. he wanted more regulations. and so trump said no, no, no. we are taking this away. sam altman was asked about the safety of this. he said we do have to put rails on this but the benefits tremen

softbank announced between a 100 and 200 billion investment and the u.s.nomy because of election result and two dais ago, oracle, softbank and openai announced a $500 billion investment in ai infrastructure and other companies likewise have announced billions and billions adding up to trillions of investment into america and the united states. and it's also reported today in the papers that saudi arabia will be investing at least $600 billion in america, but i'll be asking the crowned prince to round out to around $1 trillion. they'll do that because we've been good to them. and i'm also going to ask saudi arabia and opec to bring down the cost of oil. bring it down. which frankly i'm surprised they did do before the election. that doesn't show a lot of love, but i'm not doing it. i was a little surprised by that. if the price came down, the russia ukraine war would end immediately. right now the price is high enough that that war will continue. you've got to bring down the oil price and end that war. and should have done it long ago and they're very respo

oracle shares up over 8%, softbank moving double digits higher, microsoft 1.5%, arm holdings over 6%,ors finding plenty of optimism on the first day of trading under president trump's return to the white house, all three major indices notching pretty solid gains. the president has vowed an american first agenda, overseas markets may still present some opportunities for investors. our seema mody joins us with much more on that story. good morning. >> well, frank, good morning. there is no sugar coating the fact that trade tensions and a stronger dollar make emerging markets a less favored destination for investors. we did see sentiment turn following trump's victory in november on these widening fears, but bank of america strategists now think that those risks are priced in for emerging markets. they carry the view that february and march is when we will get more certainty around trade and stimulus measures by china and that will help sort of the overall sentiment here. other fund managers we spoke to are getting more selective with hsbc's team selecting india as one of their top marke

softbank telling fox business it dut have the money ready. you tell us about the money? >> i'm close to the deal. i've been working on it. i feel really good about where we're at. i think elon, he's a competitor. i want us to compete for the right things. let's sp compete for great outcs for consumerses and business, let's scompete for getting inves and jobs. let's compete to make sure we drive the right outcomes from a security perspective too. elon knows that. in tend, we're at the tip of the iceberg here, we are scratching the surface of what's coming. this is the a.i. era and so getting caught in distractions amongst ourselves just feels like it's going to slow down the bigger outcome that we're all looking for. maria: it's funny to see the tech titans go at each other. we should say musk is a co-founder of open a.i. but then he split from the company back in 201 #. 2018. last march he filed a lawsuit o stop it from becoming a for profit company, claiming they breached the mission to not be a for profit company. so is this just jealousy h

and our partners, softbank, oracle and investing with mgx. on top of that we have the technology partner in media and microsoft has been very, very supportive and continues to support all of our success. this is not just for business. this will help people's life. this will help solving many, many issues, difficult things that otherwise we could not have solved with the power of ai. i think it is coming very soon and after that, that's not the goal. after that, ai superintelligence will come to solve the issues that mankind would never have thought that we could solve. well, this is the beginning of our golden age. thank you very much. >> i don't have too much to add. i am thrilled we get to do this in the united states of america. this will be the most important project of this to get this built here and create hundreds of thousands of jobs. we wouldn't be able to do this without you, mr. president and i think it will be an exciting project and do all of the wonderful things these guys talked about but the fact we get to do this in the unite

well is softbank going to have to actually if openai and softbank are both contributing 19 billion. that's what they have now put in to writing i believe they're not that liquid today at softbank. so do they have to actually sell some of. >> aam my case is yes. >> i would not comment on it. but i was it was notable how much the stock ran up yesterday. now it's not a big float at all. no. there may be a halfway decent short position. i don't even know jim. but it was notable how much that stock. >> oh, i think you're very right. and you know what renee said. and i've had renee on a number of times, including last week when i was in san francisco. renee is very specific where there are gpus, there are cpus. he makes cpus, and he's got the contracts. and i think that that is important and very real now is a very real enough that it should have gone up so much yesterday. i don't know, you know what he said last week when he was on the show on mad money. he goes, you know, there are gpus and there are cpus, and when there are ever gpus, then you find arm. so i would not call it regulator

now the white house, 0racle's and softbank appeared with president trump as he announced that they will the ceos were obtained to endorse. this monument _ were obtained to endorse. this monument undertaken is a resounding declaration of confidence in america's potential under a new president, let

the chief executivess of open ai, oracle and the japanese investment fund softbank were with the president at the white house on tuesday afternoon to announce they will work together and raise hundreds of billions of dollars for building data centers for artificial intelligence across the us. called stargate, donald trump said the joint venture is a "declaration of confidence in america". michelle fleury has the details. for months, even years, openai, the maker of chatgpt, has been raising finance to build the massive computing power, data centres that its artificial intelligence technological needs. in the past, its part in the project has been microsoft which is also its largest shareholders. now, openai is bringing other major backers on board. at the white house, oracle and softbank appeared with president trump as he announced that they will enter a joint venture with openai called stargate. stargate will initially open a data centre in texas and be open to other investors, mr trump claims the deal is evident of his success in building america's ai infrastructure. claims the ceos wer

nonetheless, softbank is saying it has this money, okay. they're part maye musk says they don't even have that money. is that true? i mean, is the whole thing really a charade? >> well, actually there is sovereign wealth capital available for the development of these things. i don't think they've got the 500 billion syndicated yet, but let me just make a mention about nuclear power, which everybody is assuming will take over on data centers. >> yeah, sorry i threw that out there. >> yeah. westinghouse is the most. yeah, westinghouse is the most advanced. they're saying 15 to 19 years from now at a cost of 58 billion per gigawatt, versus 2 billion for natural gas. so, you know, this whole idea of three mile island, erin, you'll be dead and your children will be dead before that thing gets lit up. so all of this hype around nuclear power for data centers is generations from now. and yet we need at least ten gigawatts of data centers immediately. and i'm talking about 24 months from now. so the only way that's going to happen and sorry to, you

president trump announces a $100 billion a idea was softbank, openai and oracle.res buying

the chief executives of open ai, oracle and the japanese investment fund softbank were with the presidente on tuesday afternoon to announce they will work together and raise hundreds of billions of dollars for building data centres for artificial intelligence across the us. called "stargate" donald trump said the joint venture is a "declaration of confidence in america". let's explore this more now with cathy li, head of ai, data and metaverse at the world economic forum. she's in davos this week, mixing with opinion formers — business leaders and politicians especially. let's start with the announcement from donald trump bringing together the tech bosses. what difference will it make to have that sort of leadership, and i guess the question is, the ripple effect that has in the world.- that has in the world. yeah, first of all. _ that has in the world. yeah, first of all, the _ that has in the world. yeah, first of all, the numbers - that has in the world. yeah, first of all, the numbers are j first of all, the numbers are staggering. as a matter of fact, yesterday at the forum we launch

we just heard a headline today that softbank is going to folks like brookfield for money.nd part of the comment that mgm has been making is that people don't even appreciate the disruption. cnbc had a great note on that about four days ago on.com. but the message also is investing around energy transmission infrastructure, energy itself. i mean, these are the places that are probably the most interesting to me because these are places it really is terra firma. and we can already see that. and you know, constellation's deal last week puts an exclamation point on that. >> if you see the uae, they've diversified away from oil and petroleum, you wouldn't think they've gained that much of a diversification so far. but they're well on their way. they're way over 50% on cutting back on their reliance on on petro. and they're looking at ai and they're looking at renewables and they want the tech. yeah. >> yeah. i would just remind people ten years ago, maybe even less than that, china was one of the big source of funds for us fund raising. right. they were their sovereign wealth f

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in the united states openai, oracle, softbank committee 100 billion to the project upfront bowing up0 billion over the next four years trump has joined at the white house by a.i. ceo sam altman and oracle ceo larry ellison for the announcement. here is part of it. >> together the world leading technology giants are announcing the formation of stargate the new american company that would invest $500 billion at least in a.i. infrastructure in the united states and move very quickly and very rapidly created over 100,000 american jobs almost immediately. >> trump explaining how the project will make us more competitive on the global stage. >> it will ensure the future of technology and we want to keep it in the country china as a competitor and others are competitors we wanted to be in this country and were making it available. i'm going to help a lot through emergency declaration because we have an emergency we have to get this stuff built. >> this investment will lead to vaccines and prevent cancers, personalized medicine early detection like covid that would prevent another pandemic,

because of softbank we can get great access.ne of the tech partners along with microsoft nvidia, open ai and oracle. oracle and tiktok. this is where the softbank gives them access to stargate in a way i don't think they would otherwise. >> yesterday oracle had a 2% gain. someone knew something yesterday that is why you have to watch the tape, folks. one other thing i want to ask you. i do not have it up he. >> president trump coming out with a whole bunch of different thoughts and ideas. he puts it out there for public consumption. it feels like he desperately want something to happen. how do you see it playing out ultimately. >> it does go to a u.s. by. even as he was signing those orders talking about it being a joint venture. larry ellison's name is being thrown out. oracle. in 2020, dear member this, charles, oracle and walmart teaming up to go by to talk. i think we should watch out for oracle larry ellison play. i think we should see what true social does. whether they start circling. >> what about amazon? >> amazon is an

president trump this week announcing joint venture with openai oracle softbank investing billions intoai infrastructure giants committing 100 billion dollars to the stargate project up front, with up to 500 billion over the coming four years stargate's data center in texas construction underway, joining me now here live at world economic forum, c3.ai ceo, great to see you now great to see you as youh thank you for being here reaction to this 500-billion-dollar stargate project. >> just the beginning new administration arriving on private sector to reinvent government, very much he is use ai to reinvent public services, social services military operations, government operations, constituent services and clearly doing a bear hug on private sector, relying on private sector to reinvent united states government, in the process, reinvent the world. maria: we were talking with cfo openai earlier she mentioned 300 million people right now are using chatgpt, i mean, but she said look there are six billion people in the world chase your expecting as how big this can get. >> i i mean think, soon

creando mÁs de 100.000 empleos casi inmediatamente segÚn el nuevo presidente segÚn el presidente de softbank que cualquier cerebro humano. se van a licencia pagada los funciones de los departamentos de diversidad, equidad e inclusiÓn dentro del gobierno estadounidense, programas que se van a terminar bajo la nueva administraciÓn de donald trump, Él los considera innecesarios y costosos. elian: hay muchos casos que hay que estar siguiendo muy de cerca, gracias por estar aquÍ, marÍa. buenas noches. las autoridades de texas tan instalando un nuevo tramo de bollos en el rÍo grande, muy cerca de eagle pass. a este estÁ siendo parte de la operaciÓn de estrella solitaria del gobernador greg abbott para frenar la inmigraciÓn, estas imÁgenes de drones captadas desde piedras negras muestran excavadoras y trabajadores con esta barrera flotante que durante la administraciÓn de biden provocÓ mÚltiples denuncias. el intento del presidente trump de ponerle fin al derecho de la ciudad ya por nacimiento con una orden ejecutiva generÓ una veintena de estado y tambiÉn el distrito de columbia, aunado a organiza

well done. >> well, i. >> think i need to thank softbank. >> don't i? >> did you get. >> $1 billion. >> i did i got some. >> smileys from from mastercard. >> no i thought it would be best to go through an intermediary. >> got it. so i want to get to the musk piece as well. but what was it like to work with masa son in this process? interviewing him? was it was he easy to work with? accessible. was it tough to do this book? >> hard to. >> penetrate the. >> layers in japan? also, covid was. >> a big problem. >> and i did go twice to japan and was told he was too busy. and i think actually he was cooking up what we've seen this week with the big ai projects. everybody had written him off. you know, he'd lost billions on options trading. softbank vision funds were underwater. >> sea of red ink. >> so i think. >> they thought. >> that i was going to sort of say he's a loser right. and some of his closest associates were saying you need to get this book done because he's going to go bankrupt. >> and i. >> never thought that. so overall, i'd say they were they

we heard this massive announcement of stargate with larry ellison and sam altman and the head of softbankar investment back which i think people welcome back everyone once i believe must be on the cutting edge of aip or but then elon musk came out and said softbank doesn't have the money pair they have well under $10 billion once the president's reaction to that from milan must agree. >> president trump is very excited about this structure announcement in the field of ai which is of his growing united states and it needs to capitalize on it because adversaries like china are very advanced in the field it was a big announcement for our country and our industries here at home and also the american people because this is going to create minimum 100,000 jobs here in the united states of america they should take their words for it, these investments are coming to our great country and american jobs are coming with them. >> martha: all right well it will be interesting to watch all of that play out and i should point out sam altman went back to elon and said they absolutely have the money for t

softbank ceo. my friend you know, she son. and ceo of open ai and i would say the by far the leading expert basnd on everything i read. sam altman. so that's great that you coming and together. that's massive group of talent and and money together. these world-leading technology giants announcing the formation of stargate. so put that name down and your books because i think you're going to hear a lot about it in the future. a new american company that will invest 500 billion dollars at least. in a i infrastructure in the united states and moving and very, very quickly moving very rapidly, creating over 100,000 american jobs almost immediately. this monumental undertaking is a resounding declaration of confidence in america's potential and or e. new president may be. a new president. i didn't say it. they did. so. i appreciate that felons. but it sure the future of technology. what we want to do is we want to keep it in this country. china as a competitor and competitors. we want. we wanted to be in this country and we're maki