TNB Tech Minute: Musk Questions Trump-Backed Stargate AI Project
WSJ Tech News Briefing
The Wall Street Journal
4.3 • 1.7K Ratings
🗓️ 22 January 2025
⏱️ 3 minutes
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| 0:31.4 | Here's your TNB Tech Minute for Wednesday, January 22nd. I'm Julie Chang for the Wall Street |
| 0:36.7 | Journal. |
| 0:42.6 | Elon Musk has raised questions about the Stargate AI joint venture announced at a White House ceremony with President Trump yesterday. The leaders of tech companies, including |
| 0:46.9 | Open AI, SoftBank, and Oracle pledged up to $500 billion to build AI infrastructure in the country. |
| 0:53.9 | Musk wrote on X that two of the companies behind the project don't have enough money to |
| 0:58.0 | follow through on the pledges. |
| 0:59.6 | The companies didn't respond to requests for comment about Musk's social media posts. |
| 1:03.9 | In an interview with Fox News, a Trump spokeswoman said the president was excited about |
| 1:08.5 | yesterday's announcement and said that Americans should, quote, |
| 1:11.5 | take President Trump and those CEO's words for it. The companies behind Stargate didn't disclose |
| 1:16.7 | how much cash each partner would contribute or precisely where all the funds would come from. |
| 1:21.7 | Stargate plans to bring on additional equity investors. The main partners have constraints on their |
| 1:26.5 | cash. Open AI has raised large sums, |
| 1:28.9 | but still loses money. Oracle has about $11 billion in cash and marketable securities, but more in |
| 1:35.2 | debt. SoftBank has roughly $30 billion of cash on hand. South Carolina is looking to restart |
| 1:42.3 | construction on a nuclear project amid growing AI demand. |
| 1:46.6 | Santee Cooper, the state's big power provider, announced today that it's seeking proposals |
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