Posted on 12/17/2024 9:42:26 AM PST by SeekAndFind
SoftBank will invest at least $100 billion into US tech projects over the next four years, CEO Masayoshi Son and President-elect Donald Trump jointly revealed during a press conference at the Mar-a-Lago resort in Florida on Monday.
Trump, who gained major support from the tech industry ahead of the 2024 election, said the massive commitment from SoftBank would create 100,000 jobs for the US economy. The investments are expected to be focused on artificial intelligence projects and the related infrastructure required to power them.
“This historic investment is a monumental demonstration confidence in America’s future, and it will help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are being created and grown right here in the USA,” Trump said.
During the press conference, Trump playfully nudged Son to boost his investment to $200 billion. Son responded by saying he “will try to make it happen.”
The announcement marked the second time that Trump and Son have collaborated on a major investment pledge. In 2016, Softbank agreed to spend $50 billion within the US and said it would create 50,000 new jobs.
“My confidence level to the economy of the United States has tremendously increased with his victory,” Son said. “President Trump is a double down president. I’m going to have to double down.”
CNBC was first to report on the $100 billion commitment.
The announcement came just days after Trump teased major perks for investors that pour money into the US.
(Excerpt) Read more at msn.com ...
President Trump already leader of the free world. Biden? Doesn’t know that it’s Tuesday. Or December.
As long as they don’t get any US Gubmint money.
I’m on a Data Center Project and the job creation that they put out there is 99% construction workers. Of the 8 that we are building, there will only be about 20 people per building for the long term. The whole point of AI is to decrease the human element.
Several 100’s of construction workers but we will be gone and all that’s left are buildings that only increase Netflix and P@rnhub’s profits and consume ALL of the electricity in the area.
We are so screwed.
RE: We are so screwed.
Please explain
Personally, I am not a fan of Sky Net.
Will the 100K jobs for the ‘US economy’ be held by US citizens?
Dey gon TAK err JEHBS
TekurJerbs
No. Neither short-term (construction = 85% Latino) nor long-term (IT = 85% Indian, etc.)
That stat gives percentage of all latinos and all Indians in Construction...not the percentage within the industry
Masayoshi Son is the kiss of death. Real investors run when they hear that guy’s involved.
Agree. But data centers will enable what Nvidia/Dell to create AI factories. These AI factories are at the heart of the next great industrial revolution. These factories will enable the return of American manufacturing from abroad because the USA will become the cheapest and fastest evolving manufacturer in the world. So beside (or in the same country) every real manufacturing plant there will be an AI manufacturing plant. The AI factory will have created the skills to make the product, the machine that makes the product, the real manufacturing plant and once the manufacturing plant starts producing products—the AI factory will continually update and improve the product based on the data output. The change that’s coming is almost unbelievable but basically what’s going to happen is that the rest of the USA is going to get Elon Musk in a box. The rest of the country is going to be able to develop and improve at the same speed as Musk’s companies because the AI factory is basically an out of the box implimentation of what Musk’s companies do.
I’d rather Trump do things to help small independent companies or sole proprietors. Help US Citizens in real ways. Not employ more foreigners or businesses with foreign connections.
Maybe this will work out better than Trumps Foxconn deal, which was a complete failure
Who do you think he works for?
Granted he does love America but us dirty people didn’t get his billions.
Best you and I can do is buy from small independent companies. Stay away from giant box stores, etc
I’m not sure if that is satire...
AI does not and will not put food on the table. Elon Musk and his companies provide a minimal amount of real jobs. Granted automation and efficiency, let alone enhanced safety for my fellow humans is wondaful but to fluff “AI” as much as we do is silly.
You want to bring manufacturing back to the US? BUY AMERICAN MADE STUFF! Take the time and effort to buy American, only settle 2% of the time. Let the Store Manager know that you will have to go elsewhere for stuff AND you’re taking your $ with you.
Have commitment and then, lead others.
I asked perplexity.ai this:
Give me some articles about AI factories and how they will accelerate american manufacturing and lead to a new industrial revolution.
Answer:
Recent reports indicate that AI is poised to revolutionize American manufacturing, ushering in a new industrial revolution characterized by increased productivity, efficiency, and innovation. Here are some key developments:
AI-Focused Manufacturing USA Institute: The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has announced a competition for a new Manufacturing USA institute focused on using AI to increase the resilience of U.S. manufacturers17. This initiative aims to leverage AI to supercharge manufacturing, empower the workforce, and create secure, resilient supply chains.
Widespread Adoption: A survey reveals that 93% of U.S. manufacturers have started new AI projects over the past year, with 55% aligning AI with strategic business goals4. This rapid adoption is expected to enhance productivity, throughput, and quality, leading to substantial revenue growth.
Economic Impact: According to a report by Accenture, businesses applying AI in factories could increase profit margins by an average of 38% by 2035, potentially leading to an economic boost of up to $14 trillion across 16 industries in 12 economies6.
Reshoring Acceleration: The adoption of AI and other emerging technologies is fueling a resurgence in American manufacturing. 82% of CEOs are now embracing reshoring strategies, up from 55% in January, with 51% investing in AI to modernize their operations2.
Diverse Applications: AI is being implemented across various manufacturing areas, including design, production, quality control, supply chain management, and inventory4. It’s also playing a crucial role in predictive maintenance, helping to prevent costly equipment failures3.
Workforce Transformation: As AI technologies evolve, there’s an opportunity to invest in and leverage AI to empower workers. Industrial AI is granting people unprecedented “superpowers,” leading to elevated efficiency, innovation, safety, and sustainability in advanced manufacturing9.
These developments suggest that AI factories are set to accelerate American manufacturing significantly, driving a new wave of innovation and competitiveness in the global market.
RE: Help US Citizens in real ways. Not employ more foreigners or businesses with foreign connections.
1. How do you know this won’t help US Citizens?
2. Almost every single American company listed in the stock market ( large or small caps ) have foreign connections. If we produce energy, for example, we’re definitely going to export what we have to other countries, not only use them locally. This will create more jobs here in the USA as well as in the countries we export them to. I see it as a win-win for us and them.
RE: I’d rather Trump do things to help small independent companies or sole proprietors.
This isn’t an either/or situation where when you help larger companies, smaller companies therefore will be left behind. It is both/and — when large companies prosper, many smaller companies prosper with them as well.
Many smaller companies for instance SUBCONTRACT the work that larger companies prefer not to do. This creates jobs for Americans. As a software developer, I used to work as consultant for a small consulting company developing applications for large companies like IBM, AT&T and CISCO. They get their products built by us, we get paid handsomely by them. We win, they win.
As JFK used to say when he gave us his huge tax cut — a rising tide lifts all boats, both large and small.
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