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Senator Pushes $70 Billion in AI, But Warns It Might Steal Your Job and Raise Bills

KEY POINTS

  • Senator David McCormick, former Bridgewater CEO, announced a $70 billion AI and energy investment in Pennsylvania on July 15, 2025.
  • McCormick and Senator Christopher Coons introduced a bill promoting liquid cooling technology to lower rising utility costs from AI data centers.
  • While warning AI will disrupt jobs and raise energy demands, McCormick said it’s too early to regulate the technology’s rapid growth.

Senator David McCormick, former Bridgewater hedge fund CEO and Pennsylvania's self-appointed AI evangelist, proudly announced a $70 billion AI-and-energy spending spree on July 15, 2025, aimed at beating China in the AI race. He promises innovation powered by liquid cooling tech, co-sponsored with Democrat Chris Coons, to stop your utility bills from doubling while AI devours jobs and strains energy demand, set to triple in 15 years. He insists Americans have more cash under Trump, yet admits they don’t feel it thanks to surging housing and health care prices. His wife Dina, Meta’s president, is probably sweating their dinner talk. Meanwhile, regulating AI? Nope, 'too soon.'

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Source: Axios | Published: 4/15/2026 | Author: Andrew Childers

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