President Donald Trump and Sen. Dave McCormick, R-Pa., will announce a sweeping $70 billion investment package in artificial intelligence and energy development Tuesday at a landmark innovation summit in Pittsburgh, promising to bring thousands of jobs and global industry leaders to Pennsylvania, Axios reported.
Trump and McCormick are set to headline the inaugural Pennsylvania Energy and Innovation Summit, unveiling a $70 billion initiative focused on artificial intelligence and energy infrastructure across the state.
The first-of-its-kind summit, held at Carnegie Mellon University in Pittsburgh, is designed to highlight “Pennsylvania’s incredible potential to power the AI revolution,” according to McCormick.
The event has attracted more than 60 CEOs and executives from around the world, underscoring the state’s growing role in the intersection of technology, energy, and national security.
“President Trump has put together a bold strategy to strengthen and maintain America’s AI and energy dominance,” McCormick said in a statement to Axios. He added that the summit “is the first of its kind to convene the top CEOs and leaders from energy, AI, labor, and the world’s largest sources of capital, demonstrating that Pennsylvania is ready to lead in the AI and energy revolution.”
Organizers say the investment represents the “largest investment commitment in these industries in terms of dollars for the state and jobs created in the history of the Commonwealth.”
Planned investments will include new data centers, power generation projects, and grid infrastructure to support the surging demand driven by AI technology. The initiative will also fund training programs and apprenticeships to prepare workers for jobs in the rapidly expanding AI sector.
Among the announcements, Blackstone President and COO Jon Gray will reveal a $25 billion project to develop data-center and energy infrastructure in northeastern Pennsylvania. The plan includes a joint venture aimed at boosting power generation, with projections of 6,000 construction jobs annually and 3,000 permanent positions.
The summit also serves as a showcase for Pennsylvania, with McCormick and his wife, Dina Powell McCormick, hosting events at several Pittsburgh venues for global attendees.
High-profile participants include Exxon Mobil CEO Darren Woods, Chevron CEO Mike Wirth, BlackRock Chairman Larry Fink, Palantir CEO Alex Karp, Anthropic CEO Dario Amodei, and Amazon Web Services Senior Vice President Matt Garman.
Infrastructure and investment leaders such as Bechtel’s Brendan Bechtel, Bridgewater CEO Nir Bar Dea, GIC CEO Lim Chow Kiat of Singapore, Brookfield CEO Bruce Flatt, CPP Investments CEO John Graham, and EQT CEO Toby Rice are also expected.
Alphabet and Google executive Ruth Porat, KKR’s Raj Agrawal, and Khaldoon Khalifa Al Mubarak of Mubadala Investment Co. in Abu Dhabi will also attend.
Several members of the Trump administration are participating, including Treasury Secretary Scott Bessent, Interior Secretary Doug Burgum, Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright, Environmental Protection Agency Administrator Lee Zeldin, White House chief of staff Susie Wiles, and David Sacks, Trump’s AI and crypto czar.
Pennsylvania political figures joining the summit include Gov. Josh Shapiro (D), Sen. John Fetterman (D), and Rep. John Joyce (R), a member of the House Energy Committee, along with other congressional and bipartisan state legislative leaders.
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