Business
Tech giants announce $500bn ‘Stargate’ AI plan in US
The creator of ChatGPT, OpenAI, is teaming up with another US tech giant, a Japanese investment firm and an Emirati sovereign wealth fund to build $500bn (£405bn) of artificial intelligence (AI) infrastructure in the United States.
The new company, called The Stargate Project, was announced at the White House by Donald Trump who billed it “the largest AI infrastructure project by far in history.”
The venture, which began before Trump took office, announced $100bn of funding was being made available immediately, with the rest to come over four years, creating an estimated 100,000 jobs.
It is a partnership between OpenAI, Oracle, Japan’s Softbank and MGX, a tech investment arm of the United Arab Emirates government.
The AI industry has exploded in recent years, creating massive extra demand for the data centres which it relies on, while also raising concerns about the huge amounts of water and power such facilities require.
Business
An industrial Chinatown near the US southern border readies its options should Trump tariffs come
The huge industrial park sprawls across the rural landscape with row upon row of warehouse-sized manufacturing units. Logos and signs plastered with red and gold — lucky colors in Chinese tradition — brighten the otherwise gray exteriors while aromas of Peking duck come from an on-site canteen.
But this development is thousands of miles from Beijing or Shanghai — and just a few hours’ drive from the Texas border, in northern Mexico.
Business
No, Trump did not become an overnight ‘crypto billionaire’
President Donald Trump’s meme coin may be a textbook cash grab — not unlike his $60 made-in-China Bibles and his $400 gold sneakers — but it’s not the kind of venture that can catapult his wealth into the stratosphere.
Some news outlets reported an absolute melt-up in Trump’s net worth over the weekend, and those figures have run wild on social media. Respectfully, though, you have to squint really hard and swallow a giant red crypto pill to conclude that the president’s net worth suddenly shot up 800% on the back of a digital asset that is functionally useless (more on that in a moment).
He’s still a billionaire, to be sure, but a single-digit one — hundreds of billions of dollars away from the levels of the wannabe tech oligarchs who surrounded him at Monday’s inauguration.
Business
Today’s CEOs are the last to manage all-human workforces, says Marc Benioff
Today’s chief executives are the last generation to manage all-human workforces as companies increasingly adopt artificial intelligence, Salesforce CEO Marc Benioff said Thursday.
“From this point forward… we will be managing not only human workers but also digital workers,” he said on a panel at the annual meeting of the World Economic Forum in Davos, Switzerland.
Benioff provided a recent example from his own business.
He said Salesforce’s software had been used to help run the annual conference in Davos for more than a decade. But this year, for the first time, the San Francisco-based tech giant incorporated an “AI agent” into its app for Davos attendees to help them decide which panels to attend.
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