AsianFin -- Elon Musk raised doubts over the feasibility of a massive $100 billion artificial intelligence initiative announced by U.S. President Donald Trump, suggesting the companies involved may struggle to meet their financial commitments.
Musk took to his social media platform, X, to criticize the venture, claiming that the involved companies, particularly SoftBank, might not have the necessary capital to follow through. “They don’t actually have the money,” Musk wrote. “SoftBank has well under $10B secured. I have that on good authority.”
The announcement, made at the White House, saw Trump, SoftBank’s Masayoshi Son, OpenAI’s Sam Altman, and Oracle’s Larry Ellison introduce Stargate, a project aimed at constructing data centers and physical campuses with an initial $100 billion investment, eventually growing to $500 billion.
“This is to me a very big thing,” Trump remarked. “I think it’s going to be something that’s very special.”
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