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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.
Bitcoin is currently trading at $104,959.98, with analysts predicting it could reach $150,000 by mid-2025 due to strong institutional interest and market dynamics. Ethereum, now at $3,977, is also expected to rally towards $5,000, bolstered by significant ETF inflows and bullish technical indicators. Both cryptocurrencies are benefiting from increased adoption and favorable market conditions, with Bitcoin's recent surge creating a positive environment for Ethereum's growth.
Europe faces the risk of a recession in 2025 due to proposed tariffs by President-elect Trump, according to analysts at ING. The eurozone, already experiencing sluggish growth, could be pushed into a full-blown recession as tariffs on imports, particularly affecting the automotive sector, threaten economic stability. Additionally, uncertainty regarding US military support for Ukraine may further undermine confidence in the European economy.
Nigel Green
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Elon Musk questions financial viability of ambitious Stargate AI Project
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11:57 11.11.2024
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