Sneak peek: Trump, McCormick plan $70 billion in AI, energy announcements for Pennsylvania
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President Trump and Sen. Dave McCormick (R-Pa.) will use a first-of-its-kind innovation summit in Pennsylvania on Tuesday to announce $70 billion in AI and energy investments for the state, including thousands of new jobs.
- The inaugural Pennsylvania Energy and Innovation Summit, at Carnegie Mellon University in Pittsburgh, aims to ignite "Pennsylvania's incredible potential to power the AI revolution," McCormick says.
Why it matters: In addition to Trump's attendance, McCormick has drawn energy and AI leaders from around the world, including over 60 CEOs, to showcase the economic and national-security benefits of building AI infrastructure such as data centers and power generation.
Zoom in: McCormick will say the $70 billion in 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," organizers tell Axios in a preview.
- "Anticipated investments include new data centers, new power generation and grid infrastructure to meet surging data center demand, along with AI training programs and apprenticeships for businesses," the preview says.
- Blackstone president and COO Jon Gray will announce a $25 billion investment in data-center and energy infrastructure development in Northeast Pennsylvania, along with a joint venture for increased power generation. The project is expected to bring 6,000 construction jobs annually, plus 3,000 permanent jobs.
Behind the scenes: McCormick and his wife, Dina Powell McCormick, are hosting events showing off Pittsburgh's most iconic venues to summit attendees coming from around the world.
McCormick said in a statement to Axios: "President Trump has put together a bold strategy to strengthen and maintain America's AI and energy dominance."
- McCormick said 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."
Among the CEOs expected to attend: ExxonMobil's Darren Woods, Chevron's Mike Wirth, BlackRock's Larry Fink, Palantir's Alex Karp, Anthropic's Dario Amodei, Amazon Web Services' Matt Garman, Bechtel's Brendan Bechtel, Bridgewater's Nir Bar Dea, GIC's Lim Chow Kiat (Singapore), Brookfield's Bruce Flatt, CPP Investments' John Graham and EQT's Toby Rice.
- Also attending are Ruth Porat, Alphabet and Google's president and chief investment officer; Raj Agrawal, KKR's global head of real assets; and Khaldoon Khalifa Al Mubarak, managing director and group CEO of Mubadala Investment Company (Abu Dhabi).
Trump administration officials: 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, White House AI and crypto czar.
- Pennsylvania officials: Gov. Josh Shapiro (D); Sen. John Fetterman (D); Rep. John Joyce (R), a member of the House Energy Committee; plus other members of the Pennsylvania congressional delegation, and bipartisan state legislative leaders.
