Although President Donald Trump announced on Tuesday a joint investment by 3 companies to build a data center, the project has already been in development for some time and investment intentions are a trend rather than an acceleration, according to an analysis by the Julius Baer financial group.
The American president announced the day before that the companies Oracle, Open AI and Softbank would make an initial investment of 100 billion dollars in an artificial intelligence infrastructure.
The joint project agreed with Trump will be called Stargate, and in the next 4 years it would possibly expand its investment to 500 billion dollars.
Read also: With its new infrastructure in Querétaro, AWS seeks to conquer SMEs in Mexico
“While the timing seems perfect from the perspective of Trump’s negotiations, we assumed the project had been in development for some time. Some of their data centers are already under construction in Texas,” said Carsten Menke, director of Next Generation research at Julius Baer.
Baer’s comment suggests that Trump’s announcement is not a new investment.
Likewise, it would not be an acceleration in the advancement of projects linked to artificial intelligence.
Read: Trump announces a joint venture in artificial intelligence for 500 million dollars
“According to the US Census Bureau, data center construction in the country has recently reached a pace of more than $2.5 billion a month. Technology companies’ capital spending, a broader measure of investment that includes expensive information technology equipment, surpassed $60 billion per quarter toward the end of last year,” Menke cited.
“This suggests that the investment intentions of the Stargate project are more of a continuation of the established trend than an acceleration,” added the investment bank specialist.
Trump, however, made it clear in his announcement that he will facilitate the installation of the new infrastructure with some emergency orders.
Do you like photos and news? Follow us on our Instagram
