SoftBank and OpenAI's Stargate aims building small data centre by year-end: WSJ
Empower your mind, elevate your skills
Stargate, a multi-billion-dollar effort by ChatGPT's creator OpenAI SoftBank and Oracle to supercharge the US' AI ambitions is now setting the more modest goal of building a small data centre by the end of the year, likely in Ohio, the Wall Street Journal reported on Monday.In January, US President Donald Trump hosted top tech CEOs at the White House to highlight the $500 billion Stargate Project , which would create more than 100,000 jobs in the country.SoftBank and OpenAI, which jointly lead the joint venture, have been at odds over crucial terms of the partnership, including where to build the sites, the report said, citing people familiar with the matter.In a joint statement, the two companies told Reuters they were moving "with urgency on site assessments" and were also advancing projects in multiple states.When the project was unveiled, the companies involved, along with other equity backers of Stargate, had committed $100 billion for immediate deployment, with the remaining investment expected to occur over the next four years.Oracle Chairman Larry Ellison said at the time that the first of the project's data centres was already under construction in Texas.Trump has prioritized winning the AI race against China and declared, on his first day in office, a national energy emergency aimed at removing all regulatory obstacles to oil and gas drilling, coal and critical mineral mining, and building new gas and nuclear power plants to bring more energy capacity online.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
44 minutes ago
- Business Standard
Received $16 million payment after Paramount lawsuit settlement: Trump
US President Donald Trump said CBS parent company Paramount, opens new tab paid $16 million on Tuesday as part of a lawsuit settlement and that he expects to receive $20 million more. Paramount earlier this month agreed to settle a lawsuit filed by Trump over an interview with former Vice President Kamala Harris that the network broadcast in October. "We have just achieved a BIG AND IMPORTANT WIN in our Historic Lawsuit against 60 Minutes, CBS, and Paramount... Paramount/CBS/60 Minutes have today paid $16 Million Dollars in settlement, and we also anticipate receiving $20 Million Dollars more from the new Owners," Trump said in a post on Truth Social. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
an hour ago
- Mint
Kohl's shares surge over 100% amid social media fueled frenzy. Here's all you need to know
American retail chain company Kohl's Corp. shares more than doubled on Tuesday, making it the latest meme stock, as retail traders on social media heavily mentioned it. Advertisement Shares of the retailer surged as much as 105% during early trading, marking the largest one-day increase on record and returning the stock to levels last seen nearly a year ago. The stock was briefly halted due to volatility after trimming its gains and was approximately 27 per cent higher at 9:52 a.m. in New York, according to a report by Bloomberg News. Also Read | Stocks to buy under ₹100: Experts recommend two shares to buy tomorrow 'It's all social media chatter. Remember that a highlight of the meme stock era was a dose of nostalgia for companies like GameStop and AMC,' Steve Sosnick of Interactive Brokers told Bloomberg. 'Social media chatter can become self-fulfilling," he added. Short interest, which is the amount of shares borrowed to short, accounts for approximately 48 per cent of Kohl's float, the report said citing data from S3 Partners LLC. This figure way above than the levels reported by companies such as Apple Inc. and Tesla Inc., which have less than 3 per cent of their float borrowed to short. GameStop Corp, a prominent entity of the meme stock era, has about 20% short interest. Advertisement Kohl's stock rose steadily from an early April low, mainly due to US President Donald Trump's escalation of tariffs on Liberation Day, gaining more than 60 per cent by yesterday's close. However, shares were still over 25 per cent lower through Monday as the retailer faced a sales decline and dealt with the repercussions of firing its chief executive officer, Ashley Buchanan, just months after he took the role. Also Read | European shares dip as mixed earnings, trade anxiety weigh Notably, the Dow Jones, Nasdaq Composite, and S&P 500 opened flat during the market session on Tuesday without significant movement as US investors concentrated on President Donald Trump's trade agreements with global nations and corporate earnings.
Hindustan Times
an hour ago
- Hindustan Times
Donald Trump says Xi Jinping invited him to China, hints at possible meeting
US President Donald Trump on Tuesday said that Chinese President Xi Jinping has invited him to China, and he would probably meet him in the "not too distant future." US President Donald Trump set August 12 as the deadline for the US and China to reach a durable tariff agreement.(REUTERS) Meanwhile, Reuters informed that the aides of both Trump and the Chinese leader have discussed a possible meeting between the two leaders at the time of the US president's visit to Asia later this year. The report follows a senior-level meeting between the US and Chinese officials last week, on July 11, when US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi met in Malaysia. Also Read | 'Will crush your economy if…': US Senator Lindsey Graham warns India, China over Russian oil Although details of a meeting have yet to be finalised, both sides in the discussions have considered a potential Trump stopover during the Asia-Pacific Economic Cooperation summit in South Korea, said two individuals who are familiar with the situation. Also Read | Trump vs Murdoch: White House boots WSJ reporter from Trump's Scotland trip amid Epstein allegations, $10B lawsuit The proposed diplomatic meeting comes when Trump toned down his rhetoric directed towards China in recent weeks after he suspended a tit-for-tat tariff war that has unsettled global trade and supply chains. China's stance on Washington-Beijing relations Beijing also seems willing to engage in diplomatic channels. China's US embassy confirmed last week that it is inviting foreign dignitaries — some of them American — to a September 3 ceremony in Beijing commemorating the 80th anniversary of the conclusion of World War II. "Diplomacy between heads of state plays an irreplaceable strategic leading role in Sino-U.S. relations," said Chinese Foreign Affairs Ministry spokesperson Guo Jiakun on Monday, declining to comment on a possible Trump-Xi meeting. Also Read | 'Great': Elon Musk on Trump admin's proposal to overhaul H1-B visa lottery system On Friday, China Commerce Minister Wang Wentao said China wants to bring its trade ties with the US back to a stable footing, and that recent talks in Europe showed there was no need for a tariff war. On the other hand, Trump has set a deadline of August 12 for the US and China to reach a durable tariff agreement.
