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Trump Announces Private-sector $500 Billion Investment in AI Infrastructure

US President Donald Trump (L) gives remarks on artificial intelligence (AI) Infrastructure as Larry Ellison (2-L), Chief technology officer of Oracle, Masayoshi Son (2-R), CEO of SoftBank, Sam Altman (R), CEO of OpenAI look on in the Roosevelt Room of the White House in Washington, DC, USA, 21 January 2025. EPA/AARON SCHWARTZ / POOL
US President Donald Trump (L) gives remarks on artificial intelligence (AI) Infrastructure as Larry Ellison (2-L), Chief technology officer of Oracle, Masayoshi Son (2-R), CEO of SoftBank, Sam Altman (R), CEO of OpenAI look on in the Roosevelt Room of the White House in Washington, DC, USA, 21 January 2025. EPA/AARON SCHWARTZ / POOL
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Trump Announces Private-sector $500 Billion Investment in AI Infrastructure

US President Donald Trump (L) gives remarks on artificial intelligence (AI) Infrastructure as Larry Ellison (2-L), Chief technology officer of Oracle, Masayoshi Son (2-R), CEO of SoftBank, Sam Altman (R), CEO of OpenAI look on in the Roosevelt Room of the White House in Washington, DC, USA, 21 January 2025. EPA/AARON SCHWARTZ / POOL
US President Donald Trump (L) gives remarks on artificial intelligence (AI) Infrastructure as Larry Ellison (2-L), Chief technology officer of Oracle, Masayoshi Son (2-R), CEO of SoftBank, Sam Altman (R), CEO of OpenAI look on in the Roosevelt Room of the White House in Washington, DC, USA, 21 January 2025. EPA/AARON SCHWARTZ / POOL

US President Donald Trump on Tuesday announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology.
Trump said that ChatGPT's creator OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, which he said will build data centers and create more than 100,000 jobs in the United States, Reuters reported.
These companies, along with other equity backers of Stargate, have committed $100 billion for immediate deployment, with the remaining investment expected to occur over the next four years.
SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle Chairman Larry Ellison joined Trump at the White House for the launch.
The first of the project's data centers are already under construction in Texas, Ellison said at the press conference. Twenty will be built, half a million square feet each, he said. The project could power AI that analyzes electronic health records and helps doctors care for their patients, Ellison said.
The executives gave Trump credit for the news. "We wouldn't have decided to do this," Son told Trump, "unless you won."
"For AGI to get built here," said Altman, referring to more powerful technology called artificial general intelligence, "we wouldn't be able to do this without you, Mr. President."
It was not immediately clear whether the announcement was an update to a previously reported venture.
In March 2024, The Information, a technology news website, reported OpenAI and Microsoft were working on plans for a $100 billion data center project that would include an artificial intelligence supercomputer also called "Stargate" set to launch in 2028.
POWER-HUNGRY DATA CENTERS
The announcement on Trump's second day in office follows the rolling back of former President Joe Biden's executive order on AI, that was intended to reduce the risks that AI poses to consumers, workers and national security.
AI requires enormous computing power, pushing demand for specialized data centers that enable tech companies to link thousands of chips together in clusters.
"They have to produce a lot of electricity, and we'll make it possible for them to get that production done very easily at their own plants if they want," Trump said.
As US power consumption rises from AI data centers and the electrification of buildings and transportation, about half of the country is at increased risk of power supply shortfalls in the next decade, the North American Electric Reliability Corporation said in December.
As a candidate in 2016, Trump promised to push a $1 trillion infrastructure bill through Congress but did not. He talked about the topic often during his first term as president from 2017 to 2021, but never delivered on a large investment, and "Infrastructure Week" became a punchline.
Oracle shares were up 7% on initial report of the project earlier in the day. Nvidia, Arm Holdings and Dell shares also rose.
Investment in AI has surged since OpenAI launched ChatGPT in 2022, as companies across sectors have sought to integrate artificial intelligence into their products and services.

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World

UN Says 5.8 mn Refugee Children Out of School

Syrian refugee children attend a class at a school in Mount Lebanon, October 7, 2016. REUTERS/Mohamed Azaki
Syrian refugee children attend a class at a school in Mount Lebanon, October 7, 2016. REUTERS/Mohamed Azaki
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UN Says 5.8 mn Refugee Children Out of School

Syrian refugee children attend a class at a school in Mount Lebanon, October 7, 2016. REUTERS/Mohamed Azaki
Syrian refugee children attend a class at a school in Mount Lebanon, October 7, 2016. REUTERS/Mohamed Azaki

Some 5.8 million refugee children were out of school in 2025, the United Nations said Friday, warning that funding cuts threatened to make the situation worse.

UNHCR, the UN refugee agency, said 44 percent of the world's 13.1 million school-age refugee children were out of school last year.

"Education is protection. But it is also a pathway to opportunity and self-reliance," said Barham Salih, the UN high commissioner for refugees, AFP reported.

"At a time of severe pressure on humanitarian and development financing, cuts to education risk reversing decades of collective investment and closing opportunities for a generation of young people."

The former Iraqi president, who was a refugee, said that looking back on his own life, "education gave me opportunities that displacement might otherwise have denied me".

"Displacement should not determine the limits of a child's life."

UNHCR said that while 65 percent of refugee children of primary school age were enrolled in education in 2025, only 32 percent were enrolled in secondary.

Refugee tertiary education enrolment reached a record 11 percent in 2025.

Earlier this week, UNHCR said its available funding had fallen from $5.2 billion in 2024 to $3.9 billion in 2025, while the number of people it is mandated to protect is hovering around historically high levels.

UNHCR said it needed $8.5 billion this year to protect refugees, but by the end of July had received only 32 percent of that amount ($2.7 billion).

UNHCR said nearly 8.3 million refugees and other forcibly displaced people faced losing vital assistance from the agency as protection services crumble due to the "severe" funding cuts.

 

 

 

 

World

Iran: Strait of Hormuz Will Not Reopen Until Conditions Are Met

Iran: Strait of Hormuz Will Not Reopen Until Conditions Are Met
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Iran: Strait of Hormuz Will Not Reopen Until Conditions Are Met

Iran: Strait of Hormuz Will Not Reopen Until Conditions Are Met

The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, Nournews reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday, a few days after Tehran received Washington's reply to its diplomatic proposal.

“The Americans, who say something different in the media, have recently put forward proposals through a mediator. ⁠But they must understand that ⁠the period of dragging out the process and dictating one-sided demands is over," Qalibaf was quoted as saying.

"The position of the Islamic Republic of Iran is completely clear and firm, and the Strait of Hormuz ⁠will not be opened until our seven conditions, based on the Islamabad Memorandum of Understanding, are met."

Meanwhile, army spokesperson Mohammad Akraminia told Fars news on Sunday that Iran will upgrade the range of its missiles following the war with the US as American forces are now ⁠positioned as much ⁠as 1,000 km (621 miles) away from the Iranian ⁠coast.

"During this war, we concluded that we absolutely must increase the ⁠range of ⁠our missiles, and we have now moved in that direction," he said.

World

Iran Tells US There is No Military Solution to Mideast War

(FILES) Vehicles drive past a giant billboard reading 'The Strait of Hormuz remains closed' at the Revolution Square in Tehran on April 28, 2026. (Photo by ATTA KENARE / AFP)
(FILES) Vehicles drive past a giant billboard reading 'The Strait of Hormuz remains closed' at the Revolution Square in Tehran on April 28, 2026. (Photo by ATTA KENARE / AFP)
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Iran Tells US There is No Military Solution to Mideast War

(FILES) Vehicles drive past a giant billboard reading 'The Strait of Hormuz remains closed' at the Revolution Square in Tehran on April 28, 2026. (Photo by ATTA KENARE / AFP)
(FILES) Vehicles drive past a giant billboard reading 'The Strait of Hormuz remains closed' at the Revolution Square in Tehran on April 28, 2026. (Photo by ATTA KENARE / AFP)

Iran's top diplomat insisted on Sunday that there would be no military solution to the United States' war against Iran, with talks on ending the conflict apparently at an impasse.

A campaign of heavy bombardment failed to bring a decisive close to the war launched by the US and Israel in late February, and Washington in recent weeks has dialed back military operations in favor of economic pressure.

The main point of contention remains Iran's attempt to blockade the Strait of Hormuz where a UK maritime agency reported on Sunday another tanker struck by an unknown projectile.

"If our enemies again choose the path of military confrontation, our response will be stronger than before, and we will defend ourselves with even more force," Iranian Foreign Minister Abbas Araghchi said at a gathering of foreign ambassadors.

"There is no military solution, nor any solution based on new sanctions," he continued, adding "only negotiations based on justice and fairness" could end the conflict.

The two sides agreed a memorandum of understanding in June that spelled out a framework for a permanent resolution, but Iranian attacks on vessels in the Hormuz prompted a return to US military operations.

On Sunday, the British maritime security agency UKMTO said a tanker in the Hormuz "reported being struck by an unknown projectile, causing damage to the engine room", though the crew were reported safe and no environmental impact was recorded.

The agency did not specify the date of the incident, the vessel's origin or destination, or whether it was an oil tanker or LNG carrier.

Iranian and US officials last week held indirect talks on the sidelines of the UN General Assembly, with Tehran saying it presented seven conditions for reopening the strait.

Iran has demanded, among other things, a ceasefire across the Middle East, the unfreezing of its assets abroad, the lifting of sanctions on its oil sector and an end to the US naval blockade.

Trump, however, rejected the proposal, while leaving the door open both to further talks or renewed military operations.

Iranian foreign ministry spokesman Esmaeil Baqaei on Sunday characterized the latest US counterproposal as being "in line with their previous proposals concerning nuclear issues".

"We have clearly indicated that we are focusing on the issue of the Strait of Hormuz," he said, adding that reopening the waterway required "an end to the disruptions to Iranian commercial maritime traffic and the lifting of sanctions".