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Artificial intelligence giant OpenAI and energy company Sur Energy have signed a letter of intent to develop a data centre hub in Argentina requiring investment of up to $25bn, in what would be one of the largest technology infrastructure projects in the country's history.
"We are proud to announce plans to launch Stargate Argentina, an exciting new infrastructure project in partnership with one of the country's leading energy companies, Sur Energy," OpenAI CEO Sam Altman stated, calling it “one of the largest energy technology and infrastructure initiatives in Argentina's history.”
The Stargate Argentina initiative will establish a large-scale facility capable of hosting next-generation AI computing with energy capacity reaching 500 MW. This represents the first Stargate project in Latin America, positioning Argentina at the forefront of the global artificial intelligence ecosystem, El Cronista noted.
The Office of Argentine President Javier Milei confirmed in an X post that the project will be focused on meeting AI computing needs and will carry a 500 MW energy capacity.
Sur Energy, founded by Argentine entrepreneurs MatÃas Travizano and Emiliano Kargieman alongside Stan Chudnovsky, will serve as the energy and infrastructure integrator, ensuring the data centre operates on secure, efficient, and sustainable power sources. The investment will be executed through a joint venture between Sur Energy and OpenAI.
The project is structured under Argentina's Incentive Regime for Large Investments (RIGI) framework, the libertarian government's scheme designed to attract large-scale investments. As of September, RIGI had secured 20 international project submissions worth a combined $33.6bn.
This landmark agreement represents a major validation of President Milei's investment-friendly policies and could establish Argentina as a regional technology hub. However, the project's success will depend on Argentina's ability to provide stable energy infrastructure and ensure that the substantial power requirements can be met sustainably.
Argentina's Milei heads for Trump meeting in search of political, economic lifeline
Argentina's President Javier Milei meets with ally US President Donald Trump on Tuesday in a bid to shore up political and economic support ahead of key elections on October 26. The US's promise of a $20 billion bailout to the Latin American country has failed to improve Milei's dismal disapproval ratings as the highly indebted country grapples with a fresh financial crisis.
Issued on: 14/10/2025 -
By:FRANCE 24
Embattled Argentine President Javier Milei visits the White House on Tuesday, banking on a high-profile show of political and economic support from ally President Donald Trump ahead of crunch legislative elections.
With Argentina struggling to stave off yet another financial crisis and Milei's disapproval ratings rising, the libertarian firebrand is seeking help from a powerful friend.
Trump's administration has already promised $20 billion to prop up Argentina's economy and repeatedly voiced political support for Milei.
But it has not been a silver bullet to calm markets or improve Milei's polling ahead of the October 26 elections.
Their results will dictate whether Milei can pass tough cost-cutting reforms or face a legislative brick wall for the next two years of his term.
About half the seats in the Chamber of Deputies are up for grabs, and a third of those in the Senate.
In recent weeks, highly indebted Argentina has had to spend more than a billion US dollars to defend the peso, a strategy most economists believe is unsustainable.
That prompted Milei's allies in Washington to step in with a financial bailout.
Read moreTrump boosts Argentina's Milei with $20 bn economic lifeline as US buys pesos
"Argentina faces a moment of acute illiquidity," said US Treasury Scott Bessent, announcing a deal that would give Argentina access to US$20 billion.
"The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets."
The announcement sparked a rally in Argentine bonds and stocks and helped ease pressure on the peso.
It also marked a rare instance of direct US intervention in Latin American currency markets, underscoring Washington's strategic interest in Milei's success.
"The United States saw this attack on Argentina, on the ideas of freedom, on a strategic ally – and that's why they supported us," Milei said in a radio interview Monday.
"They know we are a true ally," Milei said, referring to Argentina's alignment with US and Israeli interests.
During a recent meeting, Trump said that Milei was doing a "fantastic job".
"He, like us, inherited a mess, and what he's done to fix it is good," Trump said during a meeting on the sidelines of the United Nations General Assembly.
"We're backing him 100 percent". In Argentina, there has been fevered speculation about what Trump might want from Milei in return for his support.
Before Milei took power, Argentina – a major lithium producer – had been deepening ties with China.
The Argentine president's office said the leaders would discuss "multiple topics".
On Sunday, Economy Minister Luis Caputo ruled out immediate plans to dollarise the economy or alter the floating exchange rate band, amid speculation of post-election changes.
"The United States is willing to keep buying pesos," he said.
(FRANCE 24 with AFP)
Value of Argentina’s mining exports up about 33% in first nine months of 2025
Argentina’s mining exports reached $4.21 billion in total value in the first nine months of 2025, an increase of 32.9% compared to the same period last year, the South American country’s mining secretariat reported on Monday.
The figures mark a historic record for foreign sales from the national mining industry for the first nine months of a year, it added.
The secretariat credited the jump in export value in part to “outstanding” international prices for metals like gold and silver.
The country’s main mining exports are gold, silver and lithium, a key metal in battery production. Argentina is the world’s fifth-largest producer of lithium and has the second-largest reserves of the metal in the world.
“Lithium production in Argentina is expanding (with seven projects in operation), so the growth in export value is linked to this increase in production quantities,” the secretariat added, without providing details on the growth in lithium exports.
Argentina also has six world-class copper projects in advanced stages, although none have entered production yet.
(By Lucila Sigal; Editing by Paul Simao)
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