elon musk says southbank does not have that much money to invest. up and up. like the saudi's in the car invest 600 billion in trump says make it a trillion. >> is the bunny there? that seems to be a real que question. open ai has a huge market cap valuation. microsoft invested, i assume they can raise the money either through equity. >> itis up to raise the money. they have the assets but they don't quite have the cash on hand to do it. they said they're going to put up 19-point open ai's going to put up 19 billion they don't quite have now. abu dhabi's going to come in southbank ceo sold his entire position. you've got to be careful how that money is raised. paul: the bigger news, at least to my mind and if you agree, trump is repealing the ai executive order of the president divided which led to regulation, more regulation of ai. trump seems to be saying look, we need to compete with china we need to unleash our companies to do that. what do you make of that decision? >> look, we are on record when biden signed the executive order with guard rail

just last month southbank announced the $200 billion, ithink it will $200 billion, i think it will be ithink it will be 200, and i said how that make it 200 and he sort of said yes. let's say it is 100 but it might be 200. creating more than 100,000 jobs. tremendous investment, and that is money thatis investment, and that is money that is in the bank, he is going to come and do it and he will do a greatjob and build the best centres in the country, i guarantee because i know the way he builds. since my election the. tech has set records. the s&p 500 has broken has broken six on the point is the first time ever. small business optimism soared 41 points. it went up 41 points. and that is the largest in the 39 year history of the group that does it. according to gallup, the american people's governance in the economy has surged to the highest level in history. that is why i have a news conference like that. i take the greatest business leaders in the world and say do you want to invest the

as well as 0racle, a player here, and southbank which is run by masa based in japan and he has forgedelationship with donald trump. 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 were promised and i think that is 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 andi dominant against china in al and i think that is a big part of what this announcement today represents. donald trump sought to dramatically restrict immigration on his first day back in the white house, signing a series of executive orders aimed at tightening border controls. shortly after taking office on monday, mr trump declared illegal immigration a

it's a focus on tech, the focus on ai with southbank and asian stocks powered higher by that infrastructurespend. downside coming from hong kong sox very ftse 100 futures pointing 2.1%. gaining 3 -- .3 after yesterday. nasdaq 100 looking to add points. tech stateside to get a lift. let's flip the board and lacrosse assets. the treasury markets are relatively stable in the session. 457 on the benchmark. 155, softness, threw down .2%. the boj is expected. it is expected a hike on friday. brent at $79 a barrel. go at levels we haven't seen since november after a rally of 1.4 percent yesterday looking to add .1%. 748 right now. the eu is working on a proposal for block wide purchase incentives for electric vehicles to support the union struggling automakers. speaking at the world economic forum olaf scholz said europe economies must have more competitive industry and less bureaucracy. let's head over to bloomberg's francine laqua who was on the ground for another important german voice. francine: good morning, happy wednesday. joining us is germany's finance ministry. thank you for joining us.

it sounds like he has secured huge investments from openai, southbank, oracle to invest trillions ineaction ahead of this announcement, that's what we think will happen. >> there is a lot of talk about the titans of the industry behind trump at the rotunda and i was pretty close up to the front. you could feel, it's unprecedented obviously and the power of that room in addition to the pageantry and the grandeur of it all and the drama behind the scenes. but he is doing this for a reason for he knows the future and technologies going to be dominated by artificial intelligence and he knows america's future depends in a strong vibrant economy that has a growing manufacturing class. however, that will look. and for him, cutting deals is the only way to get that done. and how refreshing is it martha to see a president who is on the job to people talk about a 100 day schedule its a 100 days print to get things done, knowing him as long as i have, if he wants to get -- what can we get done in the next ten hours are 24 hours. 36 hours. >> martha: you know, and i mention this yesterday this i

a couple of weeks ago we saw 100 billion from southbank.arting to break apart given the biden administration wreaking havoc on banking regulation as so many busi businesses. maria: the banks are happy about paul atkins. the new security and exchange commission. he's going to get rid of all of the gei and esg policies. thank you for that. let's get to the fires. los angeles county is under a mass evacuation order. three wildfires have tore through the pacific palisades leaving thousands of acres scorched. dozens of homes have been destroyed. "fox weather" meteorologist marissa taurus with an update. >> good morning, truly heartbreaking tragic and terrifying historical we talk about the winds that we have seen since yesterday morning. a forecast that verified and if not over performed. the weight just right now being clocked in portions of l.a. county, the highest winds from 81 miles per hour 299 miles per hour in the mountains of l.a. county for prospective 99 mile-per-hour wind gust that's what you find a category 2 hurricane. sustained opp

to be sure we are now seeing it = -: into asian 7 leading into asian markets, is being hit once southbankthe japanese conglomerate, —— softbank which made an announcement just made an announcement at white house with sam 77th7eb7i7g777 77th7eb7i7g7ai7 the big ai investment in about the big ai investment in the us, we are also nvidia supply advantis a japanese supplier nvidia _iei _ieei getting hit for second day in a has been a very row, this has been a very broad—based rout in widespread broad—based rout_in around the tech stocks around the world. lily i you had to go on tile ! hhee! ¥ee had te ae eh ... tell us this so appen so popular? because it is a very _ to - appen so popular? because it is a very— to checkl check gpt made by the £91 check £91 rdadeleg the ., company ai, and was company it was the company that revolutionised for consumers revolutionised ai for consumers and poured it into the and poured it into the and really caught and poured it into the a and really caught and poured it into the a bit and really caught and poured it into the a bit of mi really caught and poured i