🤯 Trump Announces $500B AI Investment

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Trump announces $500 billion 'Stargate' AI venture

• Crypto firm pleads guilty to wash trading FBI-made token

• Trump says he’s open to Elon Musk buying TikTok

• Instagram tries to attract TikTok creators with large bonuses

Let’s dive in!

STORIES MAKING A SPLASH

^_AI
Trump announces $500 billion 'Stargate' AI venture

Tech leaders Sam Altman of OpenAI, Masayoshi Son of SoftBank, and Larry Ellison of Oracle joined President Donald Trump at the White House to announce Stargate, an ambitious AI infrastructure initiative. Trump hailed it as the “largest AI infrastructure project in history,” launching with a $100 billion investment, with plans to reach $500 billion.

Stargate will create next-generation AI infrastructure, including massive data centers nationwide. The first, a 1-million-square-foot facility in Texas, is already under construction. Trump highlighted that the project is expected to generate 100,000 U.S. jobs and provide critical resources like chips, power, and water to support AI growth.

Oracle’s leadership in data centers and SoftBank’s financial backing position Stargate to revolutionize AI capabilities while driving significant economic and technological advancements in the U.S.

^_WEB3
Crypto firm pleads guilty to wash trading FBI-made token

UAE-based crypto firm CLS Global has agreed to plead guilty to U.S. charges of market manipulation and wire fraud involving a fake FBI-created cryptocurrency. The FBI’s NexFundAI (NEXF) token, designed to expose fraudulent schemes, lured CLS into helping inflate trading volumes to mislead investors about the token’s popularity.

As part of a plea deal announced on January 21, CLS admitted to wash trading and other fraudulent practices to promote NEXF. The firm will pay a $428,059 fine, forfeit funds from Binance and KuCoin accounts, and face a three-year probation banning it from crypto transactions accessible to U.S. investors.

Additionally, CLS must annually certify compliance with this prohibition to the SEC. The case highlights growing law enforcement efforts to crackdown on cryptocurrency fraud and market manipulation.

TECH SPECIAL

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Trump says he’s open to Elon Musk buying TikTok

President Donald Trump expressed openness to Elon Musk or Larry Ellison purchasing TikTok amid concerns over its Chinese ownership. Speaking at a press briefing, Trump said, “I’d like Larry to buy it, too,” and floated the idea of the U.S. government taking a 50% stake in the platform to better regulate its operations.

The Supreme Court recently upheld a law blocking TikTok for U.S. users after President Joe Biden signed legislation in April mandating its sale or a complete ban. Officials have raised alarms about the Chinese government potentially accessing Americans’ personal data through TikTok’s parent company, ByteDance.

Despite a 75-day delay on enforcing the ban signed by Trump, major companies like Apple and Google are treading carefully, with no ByteDance-affiliated apps currently available on their digital marketplaces.

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Instagram tries to attract TikTok creators with large bonuses

Instagram is seizing TikTok’s absence from U.S. app stores by offering creators hefty bonuses to post Reels exclusively, according to The Information. Bonuses reportedly range from $10,000 to $50,000 per month, requiring creators to prioritize Instagram over other platforms like TikTok.

Meta confirmed a Breakthrough Bonus program allowing TikTok creators to earn up to $5,000 over three months for posting Reels on Instagram and Facebook. Meta spokesperson Paige Cohen stated plans to offer additional content deals to attract creators and grow their communities on Meta platforms.

This push comes as TikTok grapples with a federal divest-or-ban law that led to its temporary U.S. blackout. While TikTok has begun restoring services, it remains absent from app stores, giving Instagram a key opportunity to lure creators and dominate short-form video content.

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THE WAVES

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