Tesla CEO Elon Musk bashes the $500 billion AI project Trump announced, claiming its backers don’t ‘have the money’
Posted: Jan 22, 2025
- President Trump announced a new massive AI infrastructure investment from the White House
- Elon Musk claims SoftBank does not have enough money for investment
- Trump plans to create a new company called Stargate to grow artificial intelligence infrastructure in the US
- SoftBank, OpenAI, and Oracle will invest $100 billion with plans for up to $500 billion in the future
- Musk is in a lawsuit with OpenAI and CEO Sam Altman
- Companies involved in Stargate have not disclosed how they will contribute funds
- President Donald Trump announced a new massive AI infrastructure investment called Stargate
- Elon Musk criticized the investment, stating SoftBank doesn't have the funds
- SoftBank, OpenAI, and Oracle will invest $100 billion to start with plans to invest up to $500 billion in Stargate
- Musk has an ongoing lawsuit with OpenAI and CEO Sam Altman
- The companies involved have not disclosed how they will contribute the funds
- They may raise debt or bring on other equity investors
- SoftBank and OpenAI did not respond to requests for comment
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