I didn't know Kekistan was present on J6
Elon has been reposting stuff on X that gives a negative spin on Stargate. It is no secret how he feels about Sam Altman. Surprised he did not communicate this to Trump.
According to Elon they don't have the $
Elon is not amused. He reposted this too.
There was this analysis:
<quote>
Gavin Baker
@GavinSBaker
Stargate is a great name but the $500b is a ridiculous number and no one should take it seriously unless SoftBank is going to sell all of their BABA and ARM.
SoftBank has $38b in cash, $142b in debt and generates $3ish billion in FCF per BBG. They own $143b in ARM and $18b in BABA. If they start selling ARM, their stake will be worth much less very quickly.
Oracle has $11b in cash, $88b in debt and generates $10b in FCF.
OpenAI is burning cash.
MGX did not commit to a number and is a $100b fund. Maybe 10% of the fund goes into this best case.
Nvidia will limit how much they invest in any one model company (they don’t need a monopsony). Maybe $5b.
Barring the aforementioned SoftBank ARM sale, might be able to put together $50b in equity funding over several years. Can obviously finance the GPUs and put debt on the JV.
Nowhere close to $500b. Everyone should just start issuing press releases for $1 trillion AI projects.
BTW love it that the ticker MGX which is a biotech company is up 33% on this.
If you a professional investor or analyst and you took $500b at face value - or even worse wrote a note about this - you should resign in disgrace.
<end quote>
https://x.com/GavinSBaker/status/1882081746877063677