Trump unveils US$100b AI venture

US President Donald Trump unveiled a US$100 billion (HK$780 billion) joint venture to fund artificial intelligence infrastructure, fueling the competition in the emerging technology with China and other countries.

The joint venture called Stargate is currently being planned by ChatGPT's creator OpenAI, SoftBank and Oracle, according to Trump who added the project will build data centers and create more than 100,000 jobs in the United States.

Trump estimates a total of investment up to US$500 billion will be launched to fund the project, with the remaining part expected to occur over the next four years.

In other news, TikTok's owner ByteDance plans to invest over US$12 billion in artificial intelligence infrastructure this year, the Financial Times reported.

The Chinese tech firm has allocated about US$5.5 billion for purchasing AI chips in China and nearly US$6.8 billion overseas to enhance its model training capabilities using advanced Nvidia chips, the FT said, citing sources.

However, ByteDance said the information about the plan was "incorrect," in response to the report.

Agencies and staff reporter