The Trump administration announced the Pax Silica Investment Fund on March 23, 2026. This voluntary investment consortium targets $4 trillion to support energy, critical minerals, and semiconductor supply chains. The US government will contribute $250 million to the capital pool and administer the fund.
Founding members include SoftBank, Temasek, and Mubadala managing over $1 trillion
Founding members of the consortium include SoftBank, Singapore's Temasek, and Abu Dhabi's Mubadala Investment Co. These entities manage over $1 trillion in combined assets. The initiative expands the Pax Silica program launched in December 2025. It now includes 13 member countries such as Japan, South Korea, Israel, the Netherlands, the UK, Australia, India, and Greece.
The State Department piloted a concierge service to fast-track allied purchases of US-made AI semiconductors. This effort aims to streamline procurement for participating nations. The fund seeks to strengthen domestic and allied mineral supply chains. The New York Times reports that the $4 trillion target is aspirational. It remains unclear how the administration arrived at this figure or how it will materialize.
The US contribution of $250 million represents only 0.00625 percent of the total goal. New domestic and allied mineral supply chains will take years to come to fruition. This timeline extends even with the initial funding in place. The administration has not confirmed specific details regarding the implementation of the concierge service beyond the pilot phase.
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