President Donald Trump is really going all out on artificial intelligence. 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.
McCormick is a Republican U.S. Senator from Pennsylvania, elected in 2024 after narrowly losing the GOP primary in 2022. A graduate of West Point and a Bronze Star recipient for his service in the Gulf War, McCormick later earned a Ph.D. from Princeton and built a career spanning government, business, and finance. He served in several high-level roles during the George W. Bush administration, including Under Secretary of the Treasury for International Affairs. In the private sector, he became CEO of Bridgewater Associates, one of the world’s largest hedge funds, before stepping down to run for Senate.
Since taking office in January, McCormick has positioned himself as a conservative with national security and economic expertise. He has supported tax cuts, border security, and strong U.S. foreign policy, often aligning with former President Trump on key issues.
McCormick co-sponsored bipartisan efforts to combat the fentanyl crisis and introduced legislation aimed at curbing China’s manipulation of currency exchange rates. He lives in Pittsburgh with his wife, Dina Powell, a former Trump national security official. As a freshman senator, McCormick has focused on boosting Pennsylvania’s economy, strengthening the U.S. military, and restoring what he describes as American economic leadership at home and abroad.
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.”
He also said that 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.
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.
The summit represents a strategic opportunity for McCormick and Trump to showcase their administration’s commitment to American technological and energy leadership. Beyond the substantial investments and job creation, the summit allows Trump to position himself as a champion of innovation and economic growth, particularly in a key battleground state. It highlights his focus on strengthening national security through technological advancements while fostering partnerships between government, industry, and academia.
For Trump, this event serves as a platform to reinforce his vision of American competitiveness and energy independence, demonstrating tangible progress under his leadership. It also helps solidify his influence among business leaders and voters by connecting cutting-edge AI development with real-world economic benefits.