US, Philippines Moving ‘Very Quickly’ on 4,000-Acre AI Hub Plan

The US and the Philippines are moving “very, very quickly” on a planned artificial intelligence and supply chain hub in the Southeast Asian nation, a top US official said, as Washington seeks long-term protection for American investors.

“Investors who are going to spend billions of dollars to build out very expensive capex need to make sure that those investments need to outlive administrations in both of our countries and there needs to be an element of durability and certainty,” Under Secretary of State for Economic Affairs Jacob Helberg said on Monday, referring to capital expenditure.