President Donald Trump said he has attracted over $7 trillion in private investment since being elected, from companies like Apple, Eli Lilly, and Stargate, as well as countries such as Saudi Arabia, the United Arab Emirates and Japan.
Trump spoke to reporters on Wednesday after he signed a round of executive orders, when he was asked about procuring a record amount of private sector investments totaling $7 trillion.
“We have, I would say, more than $7 trillion now…of investments coming in,” Trump said. “Apple is coming in for $500 billion alone. We have other companies coming in with massive numbers. We have car companies that are coming in. No, we’ve never seen anything like it, maybe in the 1940s or 50s or something, but we’ve never seen anything like it.”
A senior White House official provided Fox News with a breakdown of the investments, noting that many of the entities have committed “even more” than what was provided.
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For instance, Stargate, a project by Softbank, OpenAI and Oracle that involves the establishment of data centers for the further development of artificial intelligence, has committed $500 billion.
Apple also committed $500 billion, according to the data from the White House official.
Computing and electronics giant Taiwan Semiconductor Manufacturing Co. (TSMC) has committed to a $100 billion investment in the U.S., and NVIDIA is in for $200 billion.
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Other notable companies involved are Eli Lilly for $27 billion; Hyundai for $20 billion; Venture Global for $18 billion; and Johnson and Johnson for $55 billion.
Several countries have also committed large sums of money to U.S. investments, including the United Arab Emirates for $1.4 trillion; Japan for $1 trillion; Saudi Arabia for $600 billion; and India for $310 billion, though all numbers could be higher, according to the White House official.
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Days after Trump returned to the Oval Office in January, an influx of investments from the tech sector came in, amid the rise of AI and other emerging technologies that will help shape the world economy in the decades to come.
That momentum has advocates for pro-growth policies like the U.S. Chamber of Commerce, the nation’s largest business trade group, looking to capitalize with regulatory reforms to entice further investment.
“It’s great to see companies looking to make strategic investments within the United States. We look forward to working with the administration to reduce regulatory burdens to spur further investments,” Jordan Crenshaw, senior vice president of the U.S. Chamber of Commerce’s Chamber Technology Engagement Center (CTEC), previously told FOX Business.
FOX Business’ Eric Revell and Reuters contributed to this report.
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