What is Stargate, Trump's ambitious AI infrastructure venture?
CBSN
When President Trump announced the new $500 billion Stargate AI venture from OpenAI, Softbank and Oracle on Tuesday, he promised it would ensure "the future of technology" in the U.S. So far, Wall Street appears to agree, with some analysts speculating about its potential to transform the tech industry.
But the project is also sparking some questions and skepticism, including pointed criticism from one of Mr. Trump's closest advisers, tech billionaire Elon Musk.
"They don't actually have the money," Musk wrote on X, the social media app he owns. "SoftBank has well under $10B secured. I have that on good authority."
The Biden administration's move on Friday to block Nippon Steel's proposed purchase of U.S. Steel raises questions about the once iconic American company's future, with industry sources saying the manufacturer could struggle to energize growth or attract rival acquisition bids.
In helping instigate a heated debate over H-1B visas, Elon Musk is speaking both from personal experience and as a business owner. That's because his company, electric car maker Tesla, is among the U.S. companies that bring thousands of foreign engineers and other skilled workers into the U.S. each year.