Donald Trump Reverses Biden’s AI Order, Boosts $100B Stargate Project

When President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against 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 U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President took office, one of his first actions was to reverse a 2023 executive order by joe biden joe biden Joe Biden President aimed at addressing the risks AI poses to consumers, workers, and national security. Many in the AI community view this decision as a turning point for the U.S. in its goal to become a global leader in artificial intelligence.

While the AI community is celebrating the favorable 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 crypto? Let’s dive in.

Stargate: Everything You Should Know

Stargate, a joint project between OpenAI and SoftBank, aims to enhance the U.S.’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 as much as $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 in progress.

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 potential to create at least 100,000 jobs, emphasizing its value for the U.S. workforce.

A Look at the Key Players

Masayoshi Son, the chairman of SoftBank, will lead the Stargate project, with SoftBank handling the financial side and OpenAI taking care of the technical and operational aspects. Additionally, major companies like Oracle, Microsoft, Nvidia, Arm, and MGX Fund are expected to join the project as partners, which could expand its reach.

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AI Tokens Surge: A Market on the Rise

The positive developments in the AI sector since Trump’s inauguration have sparked growth in the AI token market. In just the last 24 hours, the AI token segment has risen by 8.9%, with most of the top ten AI tokens seeing impressive growth. Key performers include:

• NEAR Protocol: +5.9%
• Internet Computer: +2.4%
• Render: +8.4%
• Bittensor: +10.8%
• Artificial Superintelligence Alliance: +14.4%
• Virtuals Protocol: +19%
• The Graph: +4.5%
• Arweave: +7.7%
• Akash Network: +9.0%

Notably, the price of AI16z saw an incredible 41.2% jump in the last 24 hours.

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

With its already noticeable impact on the AI token market, the project is likely to benefit the broader crypto sector, particularly AI tokens, in the future.