Billionaire Elon Musk expressed doubts about the feasibility of the $500 billion artificial intelligence (AI) project initiated by President Trump.
According to CNN, on January 22, technology billionaire Elon Musk and US President Donald Trump’s team had arguments surrounding the $500 billion AI infrastructure project.
Specifically, on January 21, Mr. Trump announced the establishment of a consortium called Stargate to develop AI technology in the US. The partners participating in the project include many big names such as SoftBank, OpenAI and Oracle; they will spend a total of $100 billion initially on the project, aiming to increase capital to $500 billion in the next 4 years.
However, billionaire Elon Musk expressed skepticism about this project, despite the fact that the SpaceX boss is considered President Trump’s closest ally.
“These companies don’t really have that much money. SoftBank has less than $10 billion secured, I have very good sources on that,” Musk said.
Trump’s team immediately responded to Musk’s comments, asserting that Americans should trust the companies involved in the project.
“President Trump is very excited about the Stargate project. This is a growing field, and the US doesn’t want to be left behind by our competitors. We need to trust the President and the people involved in the project,” said White House press secretary Karoline Leavitt.
According to CNN’s source, Musk’s comments about the investment potential of the above companies appear to be inaccurate. The latest report shows that Softbank has $24.3 billion in cash, Oracle has $11 billion in cash, and OpenAI just raised another $10 billion.
In fact, the companies participating in Stargate don’t necessarily have that kind of money on hand, but can raise debt or sign deals with other equity investors.
