Donald Trump, Dave McCormick Visit Pittsburgh to announce AI Investments

Pittsburgh – President Donald Trump joined some leading global technology and energy leaders at the Carnegie Mellon University on Tuesday, announcing what he thinks will be billions of planned projects in Pennsylvania.

Senator Dave McCormick (R., Pa.), Who convened the summit, placed a total investment north of $ 90 billion in about 20 projects, which predicted that in the coming years “tens of thousands of jobs” adopted artificial intelligence.

“Energy and AI Crossroads are Pennsylvania,” said McCormick at this event. “We are extremely prepared to be a leader. … The future of the nation depends on the fact that we are able to lead, and people in this room are part of the answer.”

The event was praised as the first convention that attracted the attention of international media, because throughout the day directors for industry and legislators justified investing in Pennsylvania.

Both McCormick, former general director of Bridgewater Associates, one of the world’s largest hedge funds, as well as his wife, Dina Powell McCormick, member of the Meta Board and former Goldman Sachs partner, have extensive networks in which they played to organize the summit and some contracts.

Pennsylvania is often cited as the best location of the AI revolution, taking into account its ample energy resources, a qualified working force supported by many higher education institutions and the proximity of population centers.

The peak was a round table header with the president, whose visit came just over a year after the killer tried to take his life in Butler, Pennsylvania.

“Today’s commitments ensure that the future will be designed, built and made in Pennsylvania, here in Pittsburgh, and here in the USA,” said Trump, calling it a “triumphal day” for the state.

Trump spoke for about 30 minutes on a stage surrounded by two huge screens, reading “Golden Age of Energy Dominance is here”, between the slide with Punxsutawney Phil, Penn State wrestlers and panorama of Pittsburgh and Philadelphia.

He gave extensive remarks, celebrating the recent Nippon Steel agreement with the adoption of the Act on budget reconciliation and criticizing republicans who voted against it.

It will turn out whether the ads will provide significant investments and an enhance in employment on Tuesday, but the event was an extraordinary assembly of hundreds of powerful investors and data, energy and artificial intelligence from around the world.

In the introduction, McCormick noticed that only three investors in the crowd together had the power to make decisions regarding expenditure on collective capital worth $ 3 trillion.

“I will gladly see how much we can bring this money to Pennsylvania,” said McCormick.

Governor Josh Shapiro, a democrat, participated in the panel at the top and praised McCormick’s work. Asked in an interview later whether he was convinced that all offers would come, he said that his office would cooperate with companies in the hope that they would do it.

“Of course, there is a difference between what someone says today in a press release, and when the shovels enter the ground in the future,” said Shapiro. “I want to see how all these dollars come to Pennsylvania.”

“It will be important to come up with a way to go from a press release today to actually create jobs tomorrow,” said the governor, who is widely seen as a potential democratic claimant for the White House in 2028.

Hundreds of participants stored in a completed auditorium between the panels are stuck around the maze of racks from companies, advertising everything from HVAC systems with AI drive to freight software and plastics 10,000 times thinner than hair.

The robot dog saved by Lamparta passed around the atrium of the participants of the university greeting.

90 billion dollars in the breakup of the investment

The projects promoted the range of size and scope on Tuesday – and many of them have been in development for months or even years. Most are located in Western Pennsylvania, the Susquehanna Valley and the north -eastern Pennsylvania.

They include natural gas, water energy and nuclear projects; No radiant or wind, and none of the oil and carbon projects Trump swore to revive. It was a promise he re -made on Tuesday, talking about “clean, beautiful coals.”

Investors participating in the peak from around the world, many with long-term connections with Pennsylvania-even one huge object in Philadelphia was on the list of proposed projects. The list included the planned expansion of the Limerick nuclear station, planned $ 2.4 billion dollars extension of the Limerick nuclear station powered by uranium. The company proposes to add about 15% to the capacity of the plant, sufficient to supply 300,000 houses.

Some of the specific investment transactions have been reported and for many months; Others were first disclosed at the top.

BlackstoneThe largest investment company in the country has announced an investment worth $ 25 billion in the construction of data centers in northern Pennsylvania and will cooperate separately with PPL Corp. to build several natural gas generation plants to power these centers.

“You can collect data centers directly next to the source of power. This is a special sauce. The possibility of connecting these things,” said at the top, the company’s president and operational director, Jonathan Gray. “Making two in one place, this is an advantage.” Gray said that the project would mean 6,000 jobs under construction and 3,000 constant jobs.

First energyThe company of electrical usability, said that it will invest $ 15 billion in extending energy distribution, strengthening the infrastructure of the network and service of an improved network, supporting 56 out of 67 poviat of Pennsylvania. The announcement promotes the partnership with the international brotherhood of electrical workers to extend internship programs.

Coreweavecloud processing startup, Edition of $ 6 billion for the development of a 300-megawat data center in Lancaster. The center is expected to create 600 construction places and 175 full -time jobs.

Coreweave General CEO, Mike Intrator, said in an interview with Inquirer that the center would be the foundation stone of the Central Atlantic company strategy. He said that it had been working in work for about four years, because the company began to develop quickly. He called Pennsylvania unique in terms of the availability of energy resources and existing infrastructure.

Capital forceThe Canadian company has announced the purchase of Hummel station in Dam Shamokin, which is about $ 4 billion in three years. The station is the previous place of the Sunbury coal factory and moved from coal to fired gas.

“There is a long industrial history in Pennsylvania, which supports industrial places, jobs and companies,” said Capital Power Avik Dey general director in an interview between panels. He cited Marcellus’s shell. “One of the critical elements of the growing generation of gas fire is the proven reliable and long -term gas supply. And then, you know, at the end an appetite for growth in Pennsylvania, you know, support is here for new investments.”

The conference was attended by the best officers from Amazon and Google, who build data projects worth a billion dollars in the whole condition. The leaders of national investment funds from Abu Dhabi and Singapore also participated, together with the Canadian investment fund CPP, which is the main investor at Aqua America based in Bryn Mawr.

Nir Bar Da, the successor of McCormicka as a Bridgewater CEO, was on the attendance list with Central High and Haverford College Grad Alan Karp, which runs Palantir, the technology company of Peter Thiel.

“Energy domination has no political affiliation”

The peak covered the performances of the Trump’s office and other high -level officials, including the Secretary of Trade Howard Lutnick, Secretary of Treasury Scott Bessent, Energy Secretary Chris Wright, internal secretary Doug Burgum, EPA Lee Zeldin administrator and chief of the White House of Susie Wiles.

But it also attracted the two most outstanding Democrats in Pennsylvania. Senator John Fetterman (D., Pa.) Took part in the event on Monday evening, and Shapiro participated on Tuesday, but both left before Trump spoke at the top.

“AI and energy domination have no political connection,” said McCormick in the introduction of the summit. “In Pennsylvania, we meet to make sure that we will remain at the forefront of what is happening.”

Gray from Blackstone said that support from both sides of the passage helped him sell him after arriving in Pennsylvania.

“It is really difficult in many states. You can’t get people on both sides of the nave,” he said.

McCormick and Shapiro agreed that attracting development in a competitive and quick area of artificial intelligence and energy, cooperation and cutting as much red tape as possible.

There were subtle moments of misunderstandings.

A tiny meeting of students protested against Trump’s attendance at the top of the day campus. President of the University of Carnegie Mellon Farnam Jahanian praised this event and the importance of training the working force of AI.

He added, however: “We also need immigration policies that allow us to recruit the best and brightest.”

In an interview with reporters after his panel, Shapiro criticized the last Trump budget reconciliation package, which, as he said, probably hindered some types of transactions in the state due to reducing tax breaks.

“It’s a bit ironic that we’re talking about energy work here,” said Shapiro. “And the act that the president will probably advertise would go by 26,000 energy places.”

Staff writer Joseph N. Distefano contributed to this article.

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