Trump Joins Tech and Energy Leaders as US Pushes to Expand AI
The Energy and Innovation Summit, held at Carnegie Mellon University, brings together top officials from Meta, Microsoft, Alphabet, ExxonMobil and others, amid intensifying global competition with China over AI dominance.
ANNOUNCEMENT OF US$90B IN AI AND ENERGY INVESTMENTS
Trump is expected to announce some US$90 billion in AI and energy investments in Pennsylvania during the event, which was organized by U.S. Senator Dave McCormick, a key Republican ally. The president will unveil commitments from major corporations including Google, CoreWeave, and Blackstone.
McCormick told attendees the stakes "couldn't be higher," warning that if the U.S. failed to lead in AI, it could cede control over infrastructure and technology to Beijing. "We will hand control of our infrastructure, our data, our leadership and our way of life to the Chinese Communist Party," he said.
BIG TECH STRUGGLES TO MEET AI ENERGY NEEDS
Amid soaring demand, Big Tech companies are racing to secure enough power to run energy-intensive data centers. Google announced a US$3 billion deal to acquire up to 3 gigawatts of hydropower from Brookfield Asset Management. The 20-year power purchase agreements will support electricity generation at two facilities in Pennsylvania.
Cloud service provider CoreWeave also announced plans for a US$6 billion AI data center, while asset manager Blackstone committed US$25 billion to building data centers and energy infrastructure across the state.
Other executives in attendance include Mubadala CEO Khaldoon Al-Mubarak, BlackRock CEO Larry Fink, ExxonMobil CEO Darren Woods, Bechtel CEO Brendan Bechtel and Anthropic CEO Dario Amodei.
WHITE HOUSE CONSIDERS EXECUTIVE ORDERS
The White House is weighing executive actions in the coming weeks to ease infrastructure development for AI. These include simplifying connections between energy projects and the grid, allocating federal land for data centers, and creating a nationwide Clean Water Act permit to streamline approval for AI infrastructure.
Trump, who has declared AI a top national priority, ordered the creation of a comprehensive AI Action Plan in January. The plan, developed with input from the National Security Council, is due by Jul 23.
He is expected to mark the occasion with a major speech titled "Winning the AI Race," organized by White House AI and crypto adviser David Sacks and co-hosts from the All-In podcast.
GROWING POWER DEMAND AND ENERGY PRESSURE
The surge in AI activity is pushing U.S. electricity consumption to record highs. To meet demand, energy companies and tech firms are striking new deals, such as a proposed plan by Microsoft and Constellation Energy to restart the Three Mile Island nuclear plant.
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