President Donald Trump has only recently announced the Stargate initiative, claiming it to be “the largest AI infrastructure project by far in history”. According to him, the project would help keep “the future of technology” in the US. However, a Bloomberg report reveals how Elon Musk is openly questioning whether the companies that have joined Trump’s announcement, promising hundreds of billions of dollars in artificial intelligence, could follow through on them.
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Could this be a sign of an early difference of opinion within the White House? Only hours after the announcement, Musk took to his platform, X, to reveal that the companies don’t have the funds.
“They don’t actually have the money. SoftBank has well under $10B secured. I have that on good authority”.
Contrary to Musk’s claims, Sam Altman, CEO of OpenAI, had his own statements to make on X. Altman posted that Musk’s claims are wrong and that he has been upset because this initiative could compete with his Elon Musk’s own AI endeavors.
“Wrong, as you surely know. Want to come visit the first site already under way? This is great for the country. I realize what is great for the country isn’t always what’s optimal for your companies, but in your new role I hope you’ll mostly put US first”.
— Sam Altman
Musk is leading Trump’s government efficiency efforts and will also be advising him on spending. The billionaire, ever since leaving OpenAI’s board in 2018, has been engaged in a feud with Altman. Sources close to Stargate also reveal that they are not sure how Musk has arrived at the figure. According to them, the company is well-positioned to deploy $100 billion.
“I think this will be the most important project of this era. We wouldn’t be able to do this without you, Mr. President”.
-Sam Altman.
In light of this, Bloomberg revealed that Trump has, on several occasions, promoted private-sector investment promises that never went on to materialize. One of these failed promises has been the failed Foxconn factory project which Trump deemed as the “Eighth Wonder of the World”. No wonder the Stargate announcement has sparked skepticism regarding the project’s completion.
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10. C3.ai, Inc. (NYSE:AI)
Number of Hedge Fund Holders: 17
C3.ai, Inc. (NYSE:AI) is an enterprise artificial intelligence (AI) software company that builds and operates enterprise-scale AI applications. On January 22, the company announced a strategic partnership with McKinsey & Company, a global management consulting firm, in order to help prospects and clients speed up their enterprise-scale AI transformations. The collaboration will leverage the technical expertise of McKinsey’s AI arm, QuantumBlack, with C3 AI’s Enterprise AI software applications, helping companies improve their operations and find growth opportunities. Together, the joint offering will ensure companies are successful in their Enterprise AI deployments, offering them unmatched speed, transformative impact, reduced risk, as well as accelerated AI adoption.
“In close collaboration with McKinsey & Company and its AI arm, QuantumBlack, and C3 AI, customers are assured of success in their Enterprise AI deployments. Organizations that choose to partner us can have confidence in ROI with a focus on managing risk. This is how you win with AI”.
-Thomas M. Siebel, Chairman and CEO, C3 AI.
9. DigitalOcean Holdings, Inc. (NYSE:DOCN)
Number of Hedge Fund Holders: 22
DigitalOcean Holdings, Inc. (NYSE:DOCN) is a public cloud provider that can support AI workloads. On January 22, the company unveiled its new GenAI Platform at the company’s developer conference, Deploy 25, which was hosted in Austin, Texas. This GenAI platform will help customers build and deploy AI agents using foundational models from third-party providers and that too, without the need for advanced AI or machine learning expertise. Suitable for both beginners and seasoned experts, businesses can leverage the platform to build chatbot experiences that support several real-world use cases such as document analysis, intelligent customer service, automated workflows, interactive conversational agents, and more. The move marks DigitalOcean Holdings’ efforts to expand its AI strategy in 2025 and beyond, helping technology companies harness data and implement AI with ease. The GenAI platform is now available to customers.
“As AI continues to enhance business strategies, it is essential to have a partner like us that is evolving with technology and making AI accessible for users. Generative AI is an evolving concept, but our team has worked tirelessly to create an easy-to-use platform that seamlessly integrates with our customers’ existing infrastructure and has a low barrier to entry for developers at any expertise level”.
-Bratin Saha, Chief Product and Technology Officer at DigitalOcean.