One of the Trump White House's first big announcements aligned itself with the artificial intelligence boom. In a splashy announcement on his second day in office, President Trump told Americans that a new $500 billion project — backed by SoftBank (SFTBY),

The $60 to $65 billion in projected capital expenditures this year is more than double the $27 billion Meta spent in 2023.

Such announcements aren’t without political risks, as OpenAI learned when Trump adviser Elon Musk criticized the deal on the social network he owns.