Musk bashes Trump’s $797b Stargate AI project
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The news: Donald Trump adviser and Tesla CEO Elon Musk publicly questioned the financial viability of Stargate, the USD500 billion ($796.99 billion) artificial intelligence infrastructure project proudly announced by the US president a day earlier.
The context: Announced by Trump at the White House alongside Oracle Chairman Larry Ellison, OpenAI CEO Sam Altman and SoftBank CEO Masayoshi Son, the project plans to create a new American company to “immediately” start investing USD100 billion.
That would ramp up to USD500 billion in equity and debt over four years and generate over 100,000 jobs, Trump said Tuesday (Wednesday AEDT).
The numbers: In post on X late Tuesday and early Wednesday local time, Musk said the backers lack the funds to deliver on their commitments. “They don’t actually have the money,” he said, adding that “SoftBank has well under USD10b secured. I have that on good authority.”
Financial details remain unclear, and the companies have not disclosed their exact contributions.
The remarks come as Musk, who has sued OpenAI and has described its CEO Sam Altman as untrustworthy, takes on a major role in Trump’s administration leading the cost-cutting Department of Government Efficiency (DOGE).
The sources: Elon Musk post , Wall Street Journal
