Trump to unveil $70B investments in AI, energy: Report

US President Donald Trump will likely announce $70 billion in artificial intelligence (AI) and energy investments, Bloomberg reported, citing a White House official.

Trump will reveal details of these new initiatives at the Pennsylvania Energy and Innovation Summit, scheduled for today, Tuesday, at Carnegie Mellon University. This initiative aims to accelerate the development of emerging technologies and expand national energy generation capabilities, the official added.

The investments will be backed by a group of companies and will include new data center construction, upgrades to electricity grid infrastructure, and the development of training and vocational programs for AI.

Up to 60 chief executives are expected to attend the summit, including Larry Fink of BlackRock, Alex Karp of Palantir Technologies, Dario Amodei of Anthropic, Darren Woods of ExxonMobil, and Mike Wirth of Chevron.

Blackstone is anticipated to announce a $25 billion data center project, in addition to an energy generation initiative expected to create 6,000 construction jobs annually and 3,000 permanent positions, said a spokesperson for Senator David McCormick, whose state is hosting the event.