Pennsylvania, United States (Enmaeya News) — U.S. President Donald J. Trump and Sen. Dave McCormick are set to unveil a major $70 billion investment initiative at the Pennsylvania Energy and Innovation Summit, taking place tomorrow, July 15, at Carnegie Mellon University.
The investment aims to create thousands of jobs and strengthen Pennsylvania’s role in the development of U.S. AI and energy infrastructure.
Hosted by McCormick and his wife, Dina Powell McCormick, the invitation-only summit will bring together more than 60 global CEOs from the energy, AI, and finance sectors. Attendees include top executives from ExxonMobil, Chevron, BlackRock, Palantir, Anthropic, and Amazon Web Services.
Several senior Trump administration officials will also attend, including the Secretaries of Treasury, Energy, Commerce, and EPA, along with the White House chief of staff and AI czar David Sacks.
At the core of the $70 billion plan are two major projects, each worth $2 billion: The first one is a Nippon Steel–U.S. Steel partnership to safeguard steel industry jobs; the second one is the redevelopment of a former steel mill in Aliquippa into a 500-megawatt natural gas plant and AI-focused data centers.
While some environmental concerns have been raised, supporters argue the projects will revive distressed areas and bring in $95 million in tax revenue over the next decade.
McCormick has called the initiative “the largest investment commitment” in Pennsylvania’s history in terms of job creation and economic impact.
Both Trump and McCormick view the summit as part of a broader effort to secure U.S. leadership in AI and energy, with an emphasis on national security.
The announcement follows recent private-sector commitments, including Amazon’s $20 billion investment in data centers in Luzerne and Bucks counties, and a $14 billion deal between Nippon Steel and U.S. Steel aimed at supporting U.S. steel production.
Ahead of the summit, local development groups such as the Pittsburgh Technology Council and AI Strike Team have hosted events showcasing the region’s readiness for innovation. They cite Pittsburgh’s natural gas resources, industrial sites, leading universities, and tech talent as key advantages.
However, not everyone is welcoming the summit. Some Carnegie Mellon students and faculty have circulated a petition criticizing the university’s involvement and voicing concern over transparency and community input. Protests are planned for tomorrow, though organizers insist they will remain peaceful.
At the summit, Trump and McCormick will deliver keynote speeches and outline investment and infrastructure strategies. Panel discussions will include voices from business, labor, and government, focusing on how to expand AI capacity while addressing energy needs.
Further details on partnerships, funding, and implementation are expected to be announced during the event.
