Latest news with #Stargate
Time of India
9 hours ago
- Business
- Time of India
SoftBank's Masayoshi Son pitches $1 trillion US AI hub to TSMC and Trump team: Report
SoftBank Group founder Masayoshi Son is envisaging setting up a $1 trillion industrial complex in Arizona that will build robots and artificial intelligence, Bloomberg News reported on Friday, citing people familiar with the matter. Son is seeking to team up with Taiwan Semiconductor Manufacturing Co for the project, which is aimed at bringing back high-end tech manufacturing to the US and to create a version of China's vast manufacturing hub of Shenzhen, the report said. SoftBank officials have spoken with US federal and state government officials to discuss possible tax breaks for companies building factories or otherwise investing in the industrial park, including talks with US Secretary of Commerce Howard Lutnick, the report said. SoftBank is keen to have TSMC involved in the project, codenamed Project Crystal Land, but it is not clear in what capacity, the report said. It is also not clear the Taiwanese company would be interested, it said. TSMC is already building chipmaking factories in the US with a planned investment of $165 billion. Son is also sounding out interest among tech companies including Samsung Electronics, the report said. The plans are preliminary and feasibility depends on support from the Trump administration and state officials, it said. A commitment of $1 trillion would be double that of the $500 billion "Stargate" project which seeks to build out data centre capacity across the US, with funding from SoftBank, OpenAI and Oracle . SoftBank and TSMC declined to comment. The White House and US Department of Commerce did not immediately respond to requests for comment. The proposed scheme follows a series of big investment announcements SoftBank has made this year. In March it announced it would acquire US semiconductor design company Ampere for $6.5 billion and in April said it would underwrite up to $40 billion of new investment in OpenAI, of which up to $10 billion would be syndicated to other investors. This week SoftBank raised $4.8 billion from a sale of shares in T-Mobile.
CNBC
12 hours ago
- Business
- CNBC
SoftBank's Son pitches $1 trillion Arizona AI hub, Bloomberg News reports
SoftBank founder Masayoshi Son is envisaging setting up a $1 trillion industrial complex in Arizona that will build robots and artificial intelligence, Bloomberg News reported on Friday, citing people familiar with the matter. Son is seeking to team up with Taiwan Semiconductor Manufacturing Co. for the project, which is aimed at bringing back high-end tech manufacturing to the U.S. and to create a version of China's vast manufacturing hub of Shenzhen, the report said. SoftBank officials have spoken with U.S. federal and state government officials to discuss possible tax breaks for companies building factories or otherwise investing in the industrial park, including talks with U.S. Secretary of Commerce Howard Lutnick, the report said. SoftBank is keen to have TSMC involved in the project, codenamed Project Crystal Land, but it is not clear in what capacity, the report said. It is also unclear whether the Taiwanese company would be interested, it said. TSMC is already building chipmaking factories in the U.S. with a planned investment of $165 billion. Son is also sounding out interest among tech companies, including Samsung Electronics, the report said. The plans are preliminary and feasibility depends on support from the Trump administration and state officials, it said. A commitment of $1 trillion would be double that of the $500 billion "Stargate" project, which seeks to build out data centre capacity across the U.S., with funding from SoftBank, OpenAI, and Oracle. SoftBank and TSMC declined to comment. The White House and U.S. Department of Commerce did not immediately respond to requests for comment. The proposed scheme follows a series of big investment announcements SoftBank has made this year. In March, it announced it would acquire U.S. semiconductor design company Ampere for $6.5 billion and in April, it said it would underwrite up to $40 billion of new investment in OpenAI, of which up to $10 billion would be syndicated to other investors. This week SoftBank raised $4.8 billion from a sale of shares in T-Mobile.
Economic Times
14 hours ago
- Business
- Economic Times
Didn't think Elon Musk was going to abuse his power in the government: Sam Altman
Bloomberg Sam Altman, CEO, OpenAI and Elon Musk, founder, xAI Speaking at OpenAI's new podcast, CEO Sam Altman discussed a range of topics, from the potential ChatGPT 5 release date to the New York Times discussing the Stargate project, Altman said, 'I didn't think Elon was going to abuse his power in the government to unfairly compete.''I regret to say I was wrong about that,' he said. He was responding to the host's question regarding reports that Musk had attempted to derail the project. The Wall Street Journal had reported that Musk had made significant efforts to block the project unless it included his own AI startup, xAI. The 'Stargate UAE' project aims to build the world's largest set of AI data centres outside the United States, and its first phase is expected to come online by 2026. 'I just think it's really unfortunate for the country that he would do these things, and I didn't think, I genuinely didn't think he was going to,' he continued. However, he added that he is grateful that the administration did the 'right thing' and stood up to his also shared what it felt like to visit the $500 billion project's first site in Abilene, Texas. Also Read: OpenAI, Oracle developing 'world's biggest' AI training facility: Sam Altman 'I knew in my head what an order of gigawatt scale site looks like,' the OpenAI CEO said. 'But then to go see one being built and the, like, thousands of people running around doing construction and…. stand inside the rooms where the GPUs are getting installed and just, like, look at how complex the whole system is and the speed with which it's going is quite something.' The Stargate project is a $500 billion initiative that brings together major tech firms, with SoftBank and OpenAI leading the way. SoftBank manages the financials, and its CEO, Masayoshi Son, chairs the project, while OpenAI has taken responsibility for operations. Oracle and MGX have also come on board as equity investors. Altman had claimed that the facility in Texas would be the biggest in the world.
Time of India
16 hours ago
- Business
- Time of India
SoftBank's Masayoshiih Son pitches $1 trillion US AI hub to TSMC and Trump team: Report
SoftBank Group Corp founder Masayoshi Son is seeking to team up with Taiwan Semiconductor Manufacturing Co for a trillion-dollar industrial complex in Arizona to build robots and artificial intelligence, Bloomberg News reported on Friday, citing people familiar with the matter. A commitment of $1 trillion is double that of the $500 billion "Stargate" project which seeks to build out data centre capacity across the US, funded by SoftBank, OpenAI and Oracle . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo SoftBank is keen to have TSMC involved in the project but it is not clear the Taiwanese company would be interested, Bloomberg reported on Friday. SoftBank declined to comment. TSMC did not immediately respond to a request for comment. The White House and US Department of Commerce did not immediately respond to requests for comment. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
Time of India
a day ago
- Business
- Time of India
Didn't think Elon Musk was going to abuse his power in the government: Sam Altman
Speaking at OpenAI's new podcast, CEO Sam Altman discussed a range of topics, from the potential ChatGPT 5 release date to the New York Times lawsuit . When discussing the Stargate project, Altman said, 'I didn't think Elon was going to abuse his power in the government to unfairly compete.' 'I regret to say I was wrong about that,' he said. He was responding to the host's question regarding reports that Musk had attempted to derail the project. The Wall Street Journal had reported that Musk had made significant efforts to block the project unless it included his own AI startup, xAI. The ' Stargate UA E' project aims to build the world's largest set of AI data centres outside the United States, and its first phase is expected to come online by 2026. 'I just think it's really unfortunate for the country that he would do these things, and I didn't think, I genuinely didn't think he was going to,' he continued. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories However, he added that he is grateful that the administration did the 'right thing' and stood up to his behaviour. He also shared what it felt like to visit the $500 billion project's first site in Abilene, Texas. Also Read : OpenAI, Oracle developing 'world's biggest' AI training facility: Sam Altman 'I knew in my head what an order of gigawatt scale site looks like,' the OpenAI CEO said. 'But then to go see one being built and the, like, thousands of people running around doing construction and…. stand inside the rooms where the GPUs are getting installed and just, like, look at how complex the whole system is and the speed with which it's going is quite something.' The Stargate project is a $500 billion initiative that brings together major tech firms, with SoftBank and OpenAI leading the way. SoftBank manages the financials, and its CEO, Masayoshi Son, chairs the project, while OpenAI has taken responsibility for operations. Oracle and MGX have also come on board as equity investors. Altman had claimed that the facility in Texas would be the biggest in the world.
