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Novogratz labels AI as the new arms race amidst $500 billion infrastructure push
Novogratz labels AI as the new arms race amidst $500 billion infrastructure push
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Mike Novogratz, CEO of Galaxy Digital, has declared AI as the new arms race, highlighting the $500 billion infrastructure push led by OpenAI and supported by major companies like SoftBank, Oracle, and the UAE’s MGX. The Stargate project, which has been compared to the Manhattan Project, aims to establish the US as the global AI hub. The initiative has already attracted $100 billion in investments, with a total commitment of $500 billion for AI infrastructure development. Novogratz predicts that over $1 trillion will be spent on US data centers in the coming years, driving a transformation among Bitcoin miners as they pivot to meet the massive demand for infrastructure.
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