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Elon Musk publicly challenged OpenAI CEO Sam Altman over a $500 billion AI investment announced by President Trump, claiming the funds are not secured. This dispute highlights ongoing tensions between Musk and Altman, rooted in their differing visions for OpenAI and its future direction. The Stargate project, aimed at building AI infrastructure, has been in development since March 2024, with initial investments already underway.
UBS has raised AppLovin's price target to $440, reflecting confidence in its AI-driven e-commerce growth. President Trump announced a $500 billion private sector investment to enhance AI infrastructure in the U.S., emphasizing domestic technology development amid global competition. The Stargate initiative, involving OpenAI, SoftBank, and Oracle, aims to create over 100,000 jobs and build data centers, with a commitment of $100 billion for immediate deployment.
Tech leaders are clashing over a $500bn AI investment project, Stargate, announced by Trump, with OpenAI, Oracle, and Softbank as key investors. Elon Musk criticized the initiative, claiming it lacks funding, while Sam Altman defended it, highlighting its potential benefits for the country. The rivalry is intensified by Musk's history with Altman, stemming from their co-founding of OpenAI and subsequent legal disputes.
Elon Musk's relationships with major tech figures like Sam Altman, Mark Zuckerberg, and Jeff Bezos are shifting, particularly as he aligns more closely with Donald Trump. While Musk continues to criticize OpenAI and Altman, he has recently congratulated Bezos on a successful rocket launch and appears to be mending ties with other rivals. Meanwhile, European leaders are pushing back against Musk's political influence, highlighting his controversial comments about global leaders.
Elon Musk and OpenAI CEO Sam Altman are in a public dispute over the Trump-backed Stargate AI data center project, which aims to invest up to $500 billion. Musk questioned the project's funding, claiming SoftBank has less than $10 billion secured, while Altman defended the initiative as beneficial for the country. This clash is part of a broader rivalry stemming from Musk's earlier conflicts with OpenAI regarding its shift to a for-profit model.
Elon Musk has expressed skepticism about the $500 billion Stargate project, backed by Donald Trump and involving Softbank, OpenAI, and Oracle, questioning the financial viability of the initiative. Musk claimed that SoftBank has less than $10 billion secured, while OpenAI's CEO Sam Altman countered that the project is well-funded and already underway. Microsoft has committed $80 billion to the venture, with other partners also poised to contribute significantly.
President Donald Trump expressed support for Elon Musk or Larry Ellison purchasing TikTok, advocating for a deal where the U.S. would own half of the app. During a press conference, he emphasized the importance of U.S. ownership for national security and potential value, suggesting a joint venture with new or current owners. TikTok briefly ceased U.S. operations but resumed after Trump extended the deadline for compliance with a law requiring divestment from its Chinese parent company, ByteDance.
Elon Musk has raised doubts about the viability of a $100 billion AI initiative announced by President Trump, questioning the financial backing of participating companies. He claimed on his platform X that SoftBank has secured less than $10 billion, suggesting a lack of substantial funding.
OpenAI and Microsoft have countered Elon Musk's skepticism regarding the $500bn Stargate AI infrastructure project, which was recently endorsed by Donald Trump. Musk claimed the funding was insufficient, while OpenAI's CEO Sam Altman asserted that Musk's information was incorrect. The project, backed by SoftBank, Oracle, and others, aims to deploy $100bn immediately, with potential job creation and a focus on maintaining technological leadership in the US.
Arm's stock surged 15.27% following news of its collaboration on the Stargate project, contributing to a year-to-date increase of 45.02%. Barclays analyst O’Malley raised the price target from $145 to $155, maintaining a Buy rating, while the consensus rating on Wall Street is a Moderate Buy with an average target of $155.73.
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Elon Musk questions Trump's 500 billion dollar AI investment plan
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18:49 22.01.2025
arm stock surges on stargate news as analysts raise price targets
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