American companies rolled out a series of big-ticket AI and energy investment pledges on Tuesday, part of a push by President Donald Trump to maintain the country’s edge in the booming technology sector. Here are some of the biggest announcements timed around the Energy and Innovation Summit at Carnegie Mellon University, which is expected to include $90 billion in investments in and around Pennsylvania.
Alphabet-owned Google (GOOGL.O)
, opens new tab has struck a $3 billion deal with Brookfield Asset Management for electricity generated from two hydropower facilities in Pennsylvania. Google will also invest $25 billion in data centers across Pennsylvania and neighboring states over the next two years, Semafor reported on Tuesday.
Asset management firm Blackstone (BX.N)
, opens new tab plans a $25 billion investment in data centers and energy infrastructure in Pennsylvania, its president and chief operating officer, Jon Gray, told a panel at the summit. Blackstone is also announcing a new joint venture with PPL Corp (PPL.N)
, opens new tab for power generation.
First Energy will invest $15 billion to expand power distribution, strengthen grid infrastructure, and operate the enhanced grid in 56 Pennsylvania counties, the office of Senator Dave McCormick of Pennsylvania said.
On Monday Meta Platforms (META.O), opens new tab Chief Executive Mark Zuckerberg said his company would spend hundreds of billions of dollars to build several massive AI data centers, including a multi-gigawatt data center dubbed Prometheus, which is planned for Ohio.
Cloud infrastructure technology company CoreWeave (CRWV.O), opens new tab plans to spend up to $6 billion on building a new artificial intelligence data center in Pennsylvania, the company said on Tuesday.
Constellation Energy (CEG.O), opens new tab will invest $2.4 billion to upgrade the Limerick nuclear power plant, Senator McCormick’s office said.
Energy Capital Partners announced a $5 billion plan to develop a data center at the York II Energy Center.
The pledges come amid a surge in investments for AI startups, a sign that the field continues to thrive even as venture capital firms are struggling to raise money, a report from PitchBook on Tuesday showed.
Source: https://www.reuters.com/
