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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

Google Maps Will Show ‘Lake America’ in US, not ‘Lake Ontario’

A sign reading "Lake Ontario, Now and Always," unveiled by Ontario Premier Doug Ford at Fifty Point Conservation Area, after US President Donald Trump signed an executive order renaming Lake Ontario as "Lake America," near Grimsby, Ontario, Canada, August 29, 2026. (Reuters)
A sign reading "Lake Ontario, Now and Always," unveiled by Ontario Premier Doug Ford at Fifty Point Conservation Area, after US President Donald Trump signed an executive order renaming Lake Ontario as "Lake America," near Grimsby, Ontario, Canada, August 29, 2026. (Reuters)
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Google Maps Will Show ‘Lake America’ in US, not ‘Lake Ontario’

A sign reading "Lake Ontario, Now and Always," unveiled by Ontario Premier Doug Ford at Fifty Point Conservation Area, after US President Donald Trump signed an executive order renaming Lake Ontario as "Lake America," near Grimsby, Ontario, Canada, August 29, 2026. (Reuters)
A sign reading "Lake Ontario, Now and Always," unveiled by Ontario Premier Doug Ford at Fifty Point Conservation Area, after US President Donald Trump signed an executive order renaming Lake Ontario as "Lake America," near Grimsby, Ontario, Canada, August 29, 2026. (Reuters)

Google Maps has changed the ‌name of "Lake Ontario" to "Lake America" for US users to reflect President Donald Trump's executive order renaming the lake, according to a Google statement.

Trump announced on Thursday that he was changing the name of the smallest of the five Great Lakes, part of an escalating trade feud with Canada that has prompted the two countries to impose reciprocal tariffs on billions of dollars in goods.

The president's order affects the US Geographic Names Information System (GNIS), which sets ‌the standards for ‌official US maps. It does not have ‌any ⁠impact on Canadian ⁠naming conventions or how the rest of the world refers to the lake.

"Since we update Google Maps to reflect name changes in official government sources, which is GNIS for the US, people using Maps in the US will see 'Lake America,' those in Canada will continue to see 'Lake ⁠Ontario,' and those outside of the US and ‌Canada will see both names," ‌Google said in a blog post issued on Saturday.

The White ‌House, Carney's office and Ford's office did not immediately comment ‌on Sunday on Google's decision.

Google Maps made a similar change to the Gulf of Mexico last year, labeling it the "Gulf of America" following Trump's executive order on his first day ‌in office renaming the body of water.

Canadian Prime Minister Mark Carney immediately rejected the lake's name ⁠change on ⁠Thursday. Democratic Governor Kathy Hochul of New York, which shares a long border with Canada, declared that "New York won't be calling it that," while Phil Scott, the Republican governor of neighboring Vermont, called Trump's decision "petty and disappointing" on social media.

The premier of Ontario, Doug Ford, on Saturday unveiled a large lakeside sign that reads, "Lake Ontario: Now and Always," in both English and French.

"President Trump can call it whatever he wants, but I can tell you, the rest of the world will always call it Lake Ontario," Ford said.

World

Trump Says US Will Refill Strategic Petroleum Reserve Using Venezuelan Oil

An oil tanker sails off the coast of Maracaibo, Venezuela, 29 August 2026. (EPA)
An oil tanker sails off the coast of Maracaibo, Venezuela, 29 August 2026. (EPA)
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Trump Says US Will Refill Strategic Petroleum Reserve Using Venezuelan Oil

An oil tanker sails off the coast of Maracaibo, Venezuela, 29 August 2026. (EPA)
An oil tanker sails off the coast of Maracaibo, Venezuela, 29 August 2026. (EPA)

US President Donald Trump said on Sunday that oil from a recently struck deal with Venezuela will be used to replenish the Strategic Petroleum Reserve, which has been drawn down sharply in recent years to respond to global supply disruptions ‌and high ‌fuel prices.

Trump said in ‌a ⁠social media post ⁠that the "topping out" process will begin shortly, describing the Venezuelan oil as a “Gift from Venezuela to the People of the United States.”

It is unclear ⁠how quickly the Venezuela ‌deal could ‌provide oil for the reserve or deliver ‌any near-term benefit to US motorists. ‌

The agreement Trump announced on Friday is aimed at reviving Venezuela's battered oil industry, but it will ‌require significant investment and infrastructure work before production can rise substantially.

The ⁠reserve ⁠held about 290 million barrels as of August 21, near a 44-year low, after the United States drew down its stockpile under both the Biden and Trump administrations in response to global supply disruptions, including Russia's invasion of Ukraine and the conflict with Iran.

World

Saved by a Lunch Break: Nepal Floods Destroyed Many Schools, but Students at This School Survived

Mud covers the floor of a classroom damaged in the recent flash floods at the Shree Bagheswori Madhyamik School in Galchhi, Dhading district of Nepal Sunday, Aug. 30, 2026. (AP)
Mud covers the floor of a classroom damaged in the recent flash floods at the Shree Bagheswori Madhyamik School in Galchhi, Dhading district of Nepal Sunday, Aug. 30, 2026. (AP)
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Saved by a Lunch Break: Nepal Floods Destroyed Many Schools, but Students at This School Survived

Mud covers the floor of a classroom damaged in the recent flash floods at the Shree Bagheswori Madhyamik School in Galchhi, Dhading district of Nepal Sunday, Aug. 30, 2026. (AP)
Mud covers the floor of a classroom damaged in the recent flash floods at the Shree Bagheswori Madhyamik School in Galchhi, Dhading district of Nepal Sunday, Aug. 30, 2026. (AP)

In one of the areas worst hit by Wednesday’s catastrophic floods in Nepal, a group of schoolchildren managed to survive when they happened to leave their classroom for their lunch break.

Children attending other classes at the school in Dhading also escaped because teachers told them to quickly evacuate their classrooms shortly before the waters came crashing in.

“The teachers said, ‘There is a flood and you should leave bags and tiffins,’” said Lakshmi Shrestha, the mother of a student attending the school. “That’s how they managed to survive.”

Shrestha was among mothers and children who began to return to their school on Sunday to find the kids' belongings and see what could be salvaged. The majority of the children at the school appeared to have survived the floods, the families said.

Thick brown and gray mud coated the surfaces of school benches, walls and notebooks while the school’s courtyard was filled with sediment. Lines on the walls showed how high the water rapidly rose. A pile of small mud-caked backpacks, some with colorful key chains, were on the benches and floors, waiting to be claimed.

Kopila Mizar, the mother of a student, was unable to find her son’s backpack, but remained positive.

“My son is alive, that is my biggest happiness,” she said.

At least 69 schools in Nepal’s flood-devastated districts have been destroyed or damaged, putting education at risk for nearly 19,000 children, according to the nonprofit Save the Children. Those numbers are likely to rise as rescue teams reach more areas, they said.

The government ordered schools and universities to shut down for three days following torrential rains that triggered severe flash floods and landslides across parts of the country. University exams were also paused.

With communities still receiving constant flood warnings advising them to move to higher, safer areas, it’s unclear when classes will be able to resume.

Nepal’s disaster agency said Sunday the death toll had climbed to 788 with 2,502 missing, while Chinese authorities reported 16 deaths and 546 missing on the Chinese side of the border.

The missing include hundreds of people from over a dozen countries who were in the region to work, visit the mountains or make a pilgrimage to a peak. On Sunday, Chinese state media said 261 foreigners were missing in Tibet, including over a hundred Nepalis and others from around the world.