Trump Touts $90B AI and Energy Investments at Pittsburgh Summit

President Donald Trump joined top tech and energy executives at the Energy and Innovation Summit in Pittsburgh on Tuesday, highlighting $90 billion in AI and energy investments aimed at cementing U.S. leadership in artificial intelligence. Hosted at Carnegie Mellon University with Senator Dave McCormick, the summit brought together leaders from Meta, Microsoft, Alphabet, Exxon Mobil, and others to discuss powering America’s AI future.

With the U.S. and China locked in a global AI arms race, American tech giants are racing to secure enough energy to support rapidly growing AI data centers. Google announced a $3 billion deal to source 3 gigawatts of U.S. hydropower via Brookfield Asset Management, while AI infrastructure startup CoreWeave revealed a $6 billion investment in a Pennsylvania-based data center. Blackstone’s Jon Gray also pledged $25 billion toward data center and energy infrastructure projects in the state.

CEOs in attendance included Larry Fink (BlackRock), Khaldoon Al-Mubarak (Mubadala), Rene Haas (Arm), Dario Amodei (Anthropic), and Darren Woods (Exxon Mobil). The administration is reportedly planning executive actions to streamline energy permitting and expand access to federal land for AI-related construction, including a nationwide Clean Water Act permit to accelerate development.

The AI boom is pushing U.S. power demand to record highs, prompting deals such as Microsoft’s plan with Constellation Energy to restart the Three Mile Island nuclear plant. While these developments support AI expansion, they raise concerns about electricity shortages, higher energy costs, and blackout risks.

Trump, who previously ordered a national AI Action Plan, is expected to unveil the strategy on July 23 at an event titled “Winning the AI Race,” hosted by White House AI and crypto advisor David Sacks.