Philippines Sees US-Backed AI Hub Drawing at Least $10 Billion

A US-backed plan to build an artificial intelligence hub in the Philippines could draw an initial investment of about $10 billion, an official said, and help prop up an economy battered by the Iran war.

That would be just the start of high-end investments from technology and other companies the Philippines aims to attract to a 4,000-acre site that’s envisioned to be its version of Silicon Valley, according to Joshua Bingcang, president of the state-owned company working with the US on the project.

Manila aims to sign an initial agreement with the US State Department this year and has an ...