The man who contributed most to Trump's election was Tesla CEO Elon Musk.
At the ceremony, he sat closest to Trump among the CEOs of major companies, demonstrating their closeness. On the 21st, Trump announced that OpenAI, Oracle, and SoftBank had signed a memorandum of understanding (MOU) with the U.S. Securities and Exchange Commission (SEC) to launch a joint venture called Stargate.
The company announced that it would form a new AI infrastructure fund with a maximum scale of $500 billion (approximately 78 trillion yen). This resulted in the S&P 500 hitting an all-time intraday high the next day.
US stock markets were rising en masse, but Elon Musk put a damper on the celebrations.
Musk said through X that "SoftBank is investing $10 billion (approximately 1.5 trillion yen)
"They have less than $3.9 trillion in cash," he said, pointing out that "they have no money to invest." In fact, Bloomberg reported that as of the end of September, SoftBank had $25 billion in debt on its balance sheet.
Meanwhile, in response to Musk's assertion that SoftBank had limited liquidity, OpenAI CEO Sam Altman wrote in a post on X:
"That's wrong, as you know," he said. Even if it doesn't have cash, SoftBank has plenty of capacity to raise funds.
He continued, "What's good for the country isn't always good for the company," and added, "In my new role, I want to lead the U.S.
"Please make it a priority," he added. He was not criticizing the fact that his company was not included, but advising them to put the national interest first, since they had taken on key government positions.
The general consensus is that Musk put the brakes on Trump's first film because of his long-standing bad blood with Altmann.
Musk was deeply involved in the founding of OpenAI in 2015, but has since left the company. As a director of OpenAI, Musk no longer has absolute control over the company.
The rumor is that he was kicked out for trying to gain power, but the more conclusive reason is that Musk himself owns an AI company.
He founded "xAI" last year and is running in the AI field.
"There's not enough cash for Stargate," he yelled in frustration at Trump's decision to go with Open AI over his own xAI.
Musk actively helped Trump by participating in his campaign and giving speeches in support of him, not to protect electric vehicles, but to promote the early acquisition of licenses for self-driving cars.
Of course, his intention was to take the lead in the field of AI, which has suddenly emerged as the next growth engine. However, it appears that he quickly backed away after showing signs of his plan collapsing soon after taking office.
2025/01/24 12:50 KST
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