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Elon Musk has publicly criticized Donald Trump's $500 billion AI infrastructure initiative, claiming the funding is not secure and mocking the project's financial backing. His skepticism may stem from past conflicts with OpenAI CEO Sam Altman, whom Musk co-founded the company with before leaving in 2019. Tensions between Musk and Trump have been evident, with Musk's recent comments suggesting a growing rift despite their previous alliance.
Elon Musk challenged the financial viability of President Trump's $500 billion Stargate AI project, claiming that tech giants OpenAI, Oracle, and Softbank lack sufficient funds. Musk specifically stated that Softbank has "well under $10B secured," prompting a rebuttal from OpenAI CEO Sam Altman, who called Musk's assertion "wrong." The project, announced at the White House, aims to create over 100,000 American jobs, with significant infrastructure already underway in Texas.
Elon Musk criticized President Trump's $500 billion AI project, Stargate, claiming its backers lack sufficient funds. Musk stated that SoftBank has secured less than $10 billion, despite the project's ambitious plans for investment from major companies like OpenAI and Oracle. This criticism comes amid Musk's ongoing legal disputes with OpenAI and his close ties to the Trump administration.
US equities are poised for growth as momentum continues, despite potential volatility from proposed tariffs on Chinese imports and the EU. A significant private sector investment in AI infrastructure, alongside a positive earnings outlook for major tech firms, supports this bullish sentiment. The S&P 500 is projected to reach 6,600 by year-end 2025, driven by resilient economic growth and favorable conditions from Federal Reserve rate cuts.
Elon Musk criticized Sam Altman's $500 billion "Stargate" AI project, claiming that the funding is not secured, particularly pointing out SoftBank's financial limitations. The initiative, which aims to build advanced data centers in Texas, was praised by President Trump for its potential to create jobs and cure diseases rapidly. This public spat between Musk and Altman continues amid ongoing debates about AI regulation and Musk's legal battles against OpenAI's shift to a for-profit model.
Elon Musk expressed skepticism about President Trump's $500 billion Stargate project for AI infrastructure, claiming the involved tech companies lack the necessary funds. Musk noted that SoftBank has secured well under $10 billion, contradicting the optimistic projections presented during the announcement. OpenAI's CEO Sam Altman praised Musk, despite their contentious history, as the group of tech leaders aims to bolster U.S. competitiveness in AI.
Elon Musk has raised concerns about the financial viability of the $500 billion Stargate AI Project, led by OpenAI and SoftBank, which aims to build AI infrastructure across the US and create over 100,000 jobs. Despite strong government support, Musk questions SoftBank's ability to fund the initiative, noting it has less than $10 billion secured. The project, announced by President Trump, has key partners including Oracle, Microsoft, NVIDIA, and Arm, with initial construction already underway in Texas.
The Stargate project, backed by a $100 billion investment from OpenAI, SoftBank, Oracle, and Emirati investors, aims to solidify U.S. leadership in AI, potentially creating 100,000 jobs. OpenAI CEO Sam Altman, despite rivalry with Elon Musk, praised the initiative during its announcement with Trump, while Microsoft’s role appears to be shifting as it continues to invest heavily in AI infrastructure.
Elon Musk has criticized the $500 billion "Stargate Project" deal between OpenAI and SoftBank, claiming they lack sufficient funding. Despite backing from President Trump and promises of job creation, Musk asserts that SoftBank has secured well under $10 billion. His comments highlight a rift with Trump, as Musk also competes with OpenAI through his AI startup, xAI, which recently raised $6 billion.
President Trump faces scrutiny over his memecoin launch, which peaked at $70 billion, raising concerns about conflicts of interest and potential discredit to the crypto industry. Meanwhile, the U.S. grapples with bird flu-induced egg shortages and stock market fluctuations, with tech stocks gaining while Apple struggles. In corporate news, Warren Buffett's successor, Greg Abel, is poised to lead Berkshire Hathaway, emphasizing a culture of accountability and results.
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Musk criticizes Trump's AI infrastructure deal amid funding concerns and tensions
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