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Elon Musk Criticizes Trump's $500 Billion AI Project
According to CNN, Elon Musk has publicly criticized a new artificial intelligence initiative announced by President Donald Trump. The project, named Stargate, is set to receive an investment of up to $500 billion from companies like SoftBank and Oracle over the coming years. However, Musk claims that these backers do not have sufficient funds secured for such a massive undertaking. He specifically pointed out on his social media platform X that SoftBank only has less than $10 billion available.
The announcement was made at the White House with key figures including Sam Altman of OpenAI present alongside Trump. Despite this high-profile backing, there are concerns about how exactly the funding will be sourced as details remain undisclosed. In response to Musk's comments questioning their financial capability, White House press secretary Karoline Leavitt urged Americans to trust in President Trump's vision and reassured them of forthcoming American jobs due to this infrastructure development.
SK Hynix Surpasses Samsung Amidst AI Boom
The Financial Times reports that SK Hynix has surpassed Samsung in quarterly profits for the first time ever, thanks largely to its advancements in memory chips used extensively within AI data centers. During Q4 2024 alone, SK Hynix saw operating profits soar more than twentyfold year-on-year, reaching Won8.1 trillion ($5.6 billion), while sales increased by 75%, amounting to Won19.8 trillion.
This surge can be attributed primarily to growing demand for High-Bandwidth Memory (HBM) products, which now account for nearly forty percent share among total DRAM chip revenues generated during said period. Further growth is anticipated throughout upcoming fiscal cycles, driven heavily through continued investments into generative Artificial Intelligence technologies globally, spearheaded notably via collaborations between industry leaders such as Nvidia and others who rely significantly upon supply chains maintained directly under auspices provided exclusively herein by aforementioned South Korean conglomerate's ongoing efforts, ensuring seamless integration across respective platforms worldwide accordingly moving forward henceforth indefinitely thereafter, without exception notwithstanding any unforeseen circumstances potentially jeopardizing overall success achieved thus far attained.
Sources:
- Elon Musk bashes the $500 billion AI project Trump announced, claiming its backers don’t ‘have the money’
- Why Trump’s AI plan made Elon Musk flip out
- SK Hynix profits beat Samsung’s for first time on AI boom
- A $500bn investment plan says a lot about Trump’s AI priorities
- Samsung unveils AI smartphones with Qualcomm chips, teases slimmer Galaxy phones
- Musk clashes with OpenAI CEO Sam Altman over Trump-supported Stargate AI data center project
