Elon Musk, CEO of Tesla and the "first buddy" of US President Donald Trump, poured cold water on President Trump's plan for massive private sector investment in artificial intelligence (AI) infrastructure, saying, "They have no money."
On the 22nd (local time), Musk made this statement via X (formerly Twitter), the social networking service he owns.
Musk said, "They actually have no money," and added, "The amount secured by SoftBank is less than $10 billion. I know this from a reliable source."
The previous day, President Trump announced at the White House an AI infrastructure investment plan involving up to $500 billion with OpenAI, Oracle, and Japan's SoftBank. The three companies plan to establish a joint venture called "Stargate" to build AI infrastructure such as data centers in the US. President Trump praised it as "the largest AI infrastructure project in American history," but Musk, one of his closest confidants, expressed skepticism about the project just one day later.
Sam Altman, CEO of OpenAI, immediately refuted Musk's claim.
He commented on Musk's post, saying, "As you surely know, you are wrong," and asked, "Do you want to visit the sites where the project is already underway?" He continued, "This is very good for the country," and added, "While what is good for the country may not be best for your company, I hope your new role will put America first."
The Wall Street Journal (WSJ) reported, "Just hours after Trump announced the AI infrastructure project, Musk publicly questioned the smooth start of the joint venture," and added, "Musk poured cold water on the Stargate AI project supported by Trump." The paper continued, "This shows the sometimes awkward and uncomfortable dynamics between billionaire Musk, whom Trump has tasked with cutting government spending and streamlining the federal bureaucracy, and the new president," and noted, "They signaled that even after Trump's inauguration, Musk would not tone down his unfiltered online remarks."
Some analysts suggest that Musk's provocative post may be related to his adversarial relationship with Altman, CEO of OpenAI, which is participating in this large-scale project. The two co-founded OpenAI in 2015, but Musk left in 2018 due to internal conflict. They are now engaged in legal battles over OpenAI's transition to a for-profit company. From the perspective of Musk's AI company xAI, OpenAI and SoftBank are also potential competitors, which may have influenced his remarks.