Pittsburgh wants to lead the next economic revolution
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National leaders gathered in Carnegie Mellon University to discuss the coming investment in Pennsylvania. Photo: Andrew Caballero-Reynolds/AFP via Getty Images
The AI arms race is here, and Pittsburgh and Pennsylvania are on the front lines.
Why it matters: Pittsburgh has reinvented itself since the steel industry collapse, staving off economic fallout, but those efforts haven't created a booming and fast-growing metropolis.
- The region's and state's biggest leaders are confident it could reach those heights if it can attract enough investment for AI.
Driving the news: President Trump, Sen. Dave McCormick, Gov. Josh Shapiro and dozens of leaders in tech, energy and diplomacy visited Carnegie Mellon University for the Pennsylvania Energy and Innovation Summit on Tuesday.
- McCormick announced $90 billion of investment from about 20 companies in Pennsylvania's energy and tech sectors at the summit.
Between the lines: American Petroleum president and CEO Mike Sommers told Axios there is a growing realization that AI is going to bring about a new industrial revolution, and Pennsylvania has the natural gas to fuel it.
- Pennsylvania was second only to Texas in volume of natural gas reserves as of 2023, according to the U.S. Energy Information Administration.
What they're saying: McCormick said it's about signaling to the world that Pennsylvania is worth investing in.
- "A big part of the opportunity is to sell our story," he said.
- Shapiro said he will work to ensure the commitments made at the summit make their way back to Pittsburgh and Western Pennsylvania. "We are really committed to this region. I hope today has a catalyzing effect."
Yes, but: Nuclear technology has big appeal too, and Cranberry-based Westinghouse plays a big role in that, said Brookfield Asset Management CEO Bruce Flatt.
- Westinghouse, which builds nuclear power plants domestically and internationally, recently pledged to place 10 new reactors in America.
Ryan's thought bubble: Presidential administrations love to use Pennsylvania to boost their efforts, and Tuesday's summit felt like the Republican version of the Biden administration coming to the city to boost its workforce efforts and sell its infrastructure bill.
The other side: State Rep. Elizabeth Fiedler (D-Philadelphia) chairs the state House energy committee, and she said in a statement that Trump's efforts to raise energy prices and hurt renewable energy production as part of the "big, beautiful bill" are antithetical to Tuesday's summit.
- "Temperatures are rising, people are running out of money, and now Trump and his billionaire friends are pushing prices even higher in their war against the clean energy revolution."
The bottom line: The investments are a massive influx of private funding into the state, and leaders are bullish that the number will grow.
- "There is no better place than Pennsylvania to lead the next revolution in energy technology and artificial intelligence," McCormick said.