President Donald Trump announced more than $90 billion in investments from private companies tied to AI, tech, and energy during the “inaugural” Pennsylvania Energy and Innovation Summit on Tuesday.
Google’s president and chief investment officer, Ruth Porat, announced that the company plans to invest $25 billion to build data centers and AI infrastructure across the PJM region, which includes 13 states and Washington, D.C., along with a 20-year, $3 billion US hydropower deal with Brookfield Energy.
According to a fact sheet from Senator Dave McCormick, the cloud computing company CoreWeave announced plans to invest more than $6 billion to build a new data center “to power the most cutting-edge AI use cases” in Pennsylvania. Anthropic will commit $1 million over three years to support a program that provides cybersecurity education and an additional $1 million over three years to “support energy research at Carnegie Mellon University.” Meta will invest $2.5 million to “support startups in rural Pennsylvania communities in addition to community accelerator training for small businesses.”
Pennsylvania is a leading gas-producing state and an epicenter of the fracking boom in the US, and some of the largest investments tied to the initiative were from energy companies. Enbridge plans to invest $1 billion to expand its gas pipelines “into Pennsylvania,” while Equinor is investing $1.6 billion to “boost natural gas production at Equinor’s Pennsylvania facilities and explore opportunities to link gas to flexible power generation for data centers.”
Trump repeated calls to “drill, baby, drill” during the event.
Update, July 15th: Added link to remarks from Google’s Ruth Porat.