Trump announces creation of 'AI economy' during innovation summit
The investments should create tens of thousands of new jobs for Pennsylvanians in the energy and AI sectors while helping the United States improve its economy and global AI standing, President Donald Trump said during Tuesday's inaugural Pennsylvania Energy and Innovation Summit in Pittsburgh.
"We're here today because we believe America's destiny is to dominate every industry and be the first in every technology," Trump told attendees.
"That includes being the world's No. 1 superpower in artificial intelligence," he added.
The president said the United States is "way ahead of China" in AI development and has many plants under construction.
"China and other countries are racing to catch up to America having to do with AI," Trump said.
"We're not going to let them do it," he said. "We have the great chips [and] the great everything."
Trump said the United States is "going to be fighting them in a very friendly fashion," adding that he and Chinese President Xi Jinping have a "great relationship."
"Remaining the world's leader in AI will require an enormous increase in energy production," Trump told the audience.
He said "clean, beautiful coal" and oil production will be a key element in producing more electrical power to support AI endeavors in the United States and to stay ahead of China in AI development.
More than $56 billion in new energy infrastructure and $36 billion in new data projects were announced on Tuesday, the president said.
A $15 billion investment by Knighthead Capital Management will create the largest natural gas-fired power generation plant in North America in Homer City, Pa.
Google also is investing "billions and billions" to revitalize two hydropower facilities in the commonwealth, Trump added.
Westinghouse officials also have announced that the company will build several nuclear power plants throughout the nation to ensure the AI economy has ample energy available.
"A lot more than that will be announced in the coming weeks and months," Trump added.
The president said 20 "leading technology and energy companies" are poised to invest in Pennsylvania to develop an AI economy that utilizes the commonwealth's energy and technology assets, CBS News reported.
Many firms are investing elsewhere in the country, too, in order to support the nation's AI economy, according to the New York Post.
Trump spoke for about 30 minutes during the hour-long Pennsylvania Energy and Innovation Summit, which was organized by Sen Dave McCormick, R-Pa., and held on the campus of Carnegie Mellon University.
Pennsylvania's Democratic Gov. Josh Shapiro and others joined Trump and McCormick to discuss energy matters and the growth of AI in the United States.
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