Donald Trump reverses Biden’s order on artificial intelligence, promotes $100 billion Stargate project

When President Donald Trump Donald Trump Donald Trump is a former American president, politician, businessman, and media personality, who served as the forty-fifth President of the United States between 2017 and 2021. Trump earned a Bachelor of Science degree in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election. The Republican Party nominee was elected against the Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the US-Mexico border, and implemented a family separation policy. Trump remains a prominent figure in the Republican Party and is considered a potential candidate for the 2024 presidential elections president When he took office, one of his first actions was to rescind Joe Biden’s 2023 executive order Joe Biden Joe Biden president It aims to address the risks that artificial intelligence poses to consumers, workers and national security. This decision is viewed by many in the AI ​​community as a turning point for the United States in its goal of becoming a global leader in artificial intelligence.

As the AI ​​community celebrates the enabling environment created by the withdrawal of Biden’s executive order, a major new initiative has been launched. OpenAI and SoftBank have announced a large-scale AI infrastructure project called Stargate.

How does this ambitious project fit into the bigger picture, and what could it mean for the future of AI and cryptocurrencies? Let’s dig deeper.

Stargate: Everything you should know

Stargate, a joint venture between OpenAI and SoftBank, aims to enhance the US’s ability to train and deploy advanced AI models. The initial phase will see an investment of $100 billion, with plans to increase the total investment to up to $500 billion over the next four years.

The first project under Stargate will be the construction of a new data center in Abilene, Texas, which is already underway.

Trump’s opinion

President Trump has expressed strong support for the Stargate project, calling it “a declaration of confidence in America.” He also highlighted the project’s ability to create at least 100,000 job opportunities, stressing its value to the American workforce.

A look at the main players

Masayoshi Son, Chairman of SoftBank, will lead the Stargate project, with SoftBank handling the financial side and OpenAI handling the technical and operational aspects. In addition, major companies such as Oracle, Microsoft, Nvidia, Arm, and MGX Fund are expected to join the project as partners, which could expand its scope.

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AI Tokens Rise: A market on the rise

Positive developments in the AI ​​sector since Trump’s inauguration have stimulated growth in the AI ​​token market. In just the past 24 hours, the AI ​​token sector is up 8.9%, with most of the top 10 AI tokens seeing impressive growth. Key performers include:

• Near Protocol: +5.9%
• Internet computer: +2.4%
• Supply: +8.4%
• Bettensor: +10.8%
• Super AI Alliance: +14.4%
• Default protocol: +19%
• Chart: +4.5%
• Arwive: +7.7%
• Akash Network: +9.0%

It is worth noting that the price of the AI16z witnessed an amazing jump of 41.2% during the past 24 hours.

Moreover, SoftBank Group Corp’s stock price rose by 10.51% in the same period.

Given its already notable impact on the AI ​​token market, the project is likely to benefit the broader cryptocurrency sector, especially AI tokens, in the future.