Trump Announces Over $90B In AI And Energy Investments In Pennsylvania

President Donald Trump announced over $90 billion in investments in AI and energy on Tuesday at an event at Carnegie Mellon University in Pittsburgh.

“We’re back in Pittsburgh to announce the largest package of investments in the history of the Commonwealth of Pennsylvania,” he said. “Twenty leading technology companies are announcing $92 billion of investments in Pennsylvania.”

At the Pennsylvania Energy and Innovation Summit, organized by Republican U.S. Senator David McCormick, cabinet officials expressed an urgent need to produce as much energy as possible. They pushed for coal and natural gas to beat China in the AI race and defend the U.S.’s economic and national security.

The investment comes amid reports of Nvidia (NVDA) and AMD (AMD) preparing to resume selling their chips to China, the U.S.’s primary rival in the global AI race.

More than 60 energy and technology executives attended the event, including Palantir Technologies’ (PLTR) Alex Karp, Anthropic CEO Dario Amodei, and Exxon Mobil’s (XOM) Darren Woods. 

BlackRock’s (BLK) Larry Fink, Blackstone president Jon Gray, and Ruth Porat, the president and chief investment officer of Google, were a part of the presidential round table alongside Treasury Secretary Scott Bessent.

Tuesday’s $90 billion-plus investment marks the latest move by Trump toward meeting his pledge to ensure U.S. “energy dominance” and leadership in AI. Since the start of his second term, Trump has attracted private sector investments, eased regulations, and implemented measures to expedite the permit process for new projects. 

Ahead of Trump’s official announcement, Alphabet’s (GOOG/GOOGL) Google and Nvidia-backed CoreWeave (CRWV) reportedly announced investments in AI. Google announced that it would invest $25 billion in data centers and AI over the next two years across the largest electrical grid in the U.S., the PJM Interconnection. 

Meanwhile, CoreWeave reportedly committed $6 billion to build a new AI data center in Pennsylvania. Asset management firm Blackstone (BX) President Jon Gray also said the company would be investing $25 billion in data centers and energy infrastructure in Pennsylvania.

Alphabet’s stock edged 1% higher in afternoon trade. On Stocktwits, retail sentiment around the tech giant had improved to ‘bullish’ from ‘neutral’ territory a day ago. Meanwhile, Coreweave’s stock jumped nearly 7% with retail sentiment moving higher into the ‘extremely bullish’ zone in the past 24 hours.

The broader markets were mixed in afternoon trade on Tuesday. The Invesco QQQ Trust Series 1 (QQQ), which tracks the tech-heavy Nasdaq 100, rose 0.24% as Nvidia’s (NVDA) stock soared after the company said it will resume sales of its H20 AI chips to China. The SPDR Dow Jones Industrial Average ETF (DIA), however, was down 0.8% and the SPDR S&P 500 ETF (SPY) slipped 0.25%.

Read also: Google Reportedly Commits $25B Investment In PJM Grid Region Ahead Of Trump’s AI, Energy Pennsylvania Event

For updates and corrections, email newsroom[at]stocktwits[dot]com.