Trump’s Shocking AI Jobs Pledge: 100,000 New Roles & a TikTok Ban U-Turn?

By Aradhana Jha On Dec 18, 2024 Share with new partner:

In his first press conference since being elected president on November 6, Donald Trump announced a major investment initiative that he claimed would create 100,000 jobs focused on artificial intelligence (AI) and related infrastructure.

The investment, to be rolled out over Trump’s four-year term, will target key sectors such as data centers, semiconductors, and energy. Trump cited this as a critical step toward boosting American competitiveness in emerging technologies. This pledge mirrors a previous commitment made in December 2016, when SoftBank CEO Masayoshi Son pledged $50 billion to create 50,000 jobs ahead of Trump’s first term.

SoftBank, which currently holds JPY3.8 trillion ($25 billion) in cash and equivalents as of September, has benefitted significantly from last year’s initial public offering of Arm Holdings, in which it retains a 90% stake. Son’s renewed commitment aligns with a growing number of Big Tech executives showing support for Trump, marking a notable shift in Silicon Valley’s relationship with the former president.

TikTok Ban Under Review

During the same press conference, Trump also suggested he may reconsider the impending January 19 ban on TikTok, a day before he is scheduled to be sworn in as president.

“I have a warm spot in my heart for TikTok,” Trump said, crediting its massive follower base for contributing to his electoral victory. He noted that his administration is “taking a look at it” and may reassess the situation.

According to CNN, Trump’s comments introduce further uncertainty regarding TikTok’s fate. Meanwhile, LightShed analyst Richard Greenfield stated in an investor note that he expects current President Joe Biden to extend the TikTok deadline by 90 days, effectively leaving the issue for the incoming Trump administration to resolve.

As Trump prepares for his second term, his remarks signal a strategic focus on AI-driven job creation and a potential softening stance on TikTok, reflecting shifting priorities as he returns to office.