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Five key takeaways from the AI-energy summit with Trump
Five key takeaways from the AI-energy summit with Trump

Axios

time3 hours ago

  • Business
  • Axios

Five key takeaways from the AI-energy summit with Trump

Imposing a single narrative on Tuesday's AI-energy summit with President Trump and top execs would feel fake and forced, but some wider themes emerged. Why it matters: Big investments unveiled in Pittsburgh — plus C-suite and Cabinet wattage there — highlight how fueling data centers is a massive challenge and opportunity. Some takeaways from the daylong event at Carnegie Mellon University organized by Sen. Dave McCormick (R-Pa.) ... 💵 1. The numbers are eye-popping. The biggest announcement was Blackstone's plan to invest $25 billion in data centers and gas-fired energy in Pennsylvania, and its new joint venture with PPL. Catch up quick: Others include CoreWeave pledging $6 billion for data center development in Lancaster, and Homer City Redevelopment planning what McCormick's office called $15 billion in gas purchases from producer EQT Corp. for a computing campus. The bottom line: All told, the senator's office tallied over $90 billion worth of planned investments. What we're watching: Follow-through. "We're going to be working with these companies to hold them to the commitments," Pennsylvania Gov. Josh Shapiro (D) told reporters on the sidelines. 🏭 2. Fossil fuels and nuclear dominated. While Google's hydro deal with Brookfield got plenty of love, the overall event was light on renewables, and DOE head Chris Wright knocked wind and solar. Trump went after wind, too. The big picture: " You need the natural gas or coal infrastructure in order to provide these giant AI data centers the power that they need," Commerce Secretary Howard Lutnick claimed onstage. (Democrats respond that wind, solar and batteries are cheaper and faster.) The intrigue: The lineup favored message over debate, with environmental voices lacking, and Energy Secretary Chris Wright bashed "crazy train" European and Democratic energy policies. Fun fact: The most extensive climate comments I heard came from, yes, Exxon CEO Darren Woods. He called for "thoughtful" ways to deal with emissions without sacrificing economic growth, and discussed the oil giant's work on CO2 capture and hydrogen. 🗳️ 3. It was a possible 2028 preview. Shapiro is a potential Democratic White House contender, and used his appearance at a GOP-organized event to appeal to the center. Case in point: Shapiro noted the state's legislative power split between the parties. "For me to get any bill to my desk requires votes from the Republican Party and the Democratic Party, and I think if you enter every discussion focused on your differences, you'll never get anything done," he said. 🧑‍🤝‍🧑 4. Co-location got more love from Trump. The president's remarks again promoted building new generating facilities that directly supply data centers instead of feeding power grids, calling it a faster approach. Context: Companies including Exxon and Chevron are planning to build gas plants to directly power AI infrastructure. Blackstone President Jon Gray called putting data centers adjacent power sources the "special sauce," noting it avoids new transmission needs. Yes, but: The Federal Energy Regulatory Commission is still weighing how it considers co-location. 📁5. A bipartisan permitting overhaul is a must. Trump touted his team's executive efforts to speed project approvals, but a top executive — Bechtel Group CEO Brendan Bechtel — said permitting legislation is vital. Why it matters: "It is the single biggest thing that could help enable this AI and energy infrastructure build-out," said Bechtel, who's also a top official with the Business Roundtable. State of play:"The thing that the Business Roundtable is really focused on gearing up for the fourth quarter this year is helping push for bipartisan, durable permit reform," he said. "Unfortunately, you cannot do good, long-term balanced permit reform through executive order only."

Trump Energy secretary: AI race is next Manhattan Project
Trump Energy secretary: AI race is next Manhattan Project

The Hill

time15 hours ago

  • Business
  • The Hill

Trump Energy secretary: AI race is next Manhattan Project

Energy Secretary Chris Wright on Tuesday compared the race to dominate artificial intelligence (AI) to an American atomic bomb program during World War II. 'The AI race is the second Manhattan project,' Wright said in a Tuesday post on the social platform X. During the Second World War, the U.S. government's Manhattan Project eventually succeeded in the creation of atomic weapons that the American military used against Japan in the latter half of the conflict. Amid the worldwide race to conquer AI, President Trump has faced increased pressure to withhold emerging U.S. technology from international adversaries while ensuring American chipmakers dominate the global stage. In May, the president signed several multibillion-dollar AI deals between U.S. companies and Gulf countries during a trip to the Middle East. On Tuesday, Trump announced $92 billion in new private data center and energy investments as his administration seeks to bolster the U.S.'s power supply in an effort to rapidly develop AI, which consumes a significant amount of energy. The president unveiled investments from 20 top energy and technology companies, including Google, CoreWeave, and Blackstone, at Sen. Dave McCormick's (R-Pa.) first Pittsburgh-based Pennsylvania Energy and Innovation Summit.

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