President Donald Trump is set to award the National Medal of Science to Elon Musk, Nvidia's Jensen Huang, Sergey Brin and AMD's Lisa Su at a summit Thursday, Bloomberg reported Wednesday, citing a White House official.

Michael Dell and Microsoft's Satya Nadella are also due to receive the National Medal of Technology and Innovation, according to the report.

The administration is also expected to announce more than $100 million in education funding for US STEM researchers, Bloomberg said.

"The Trump Administration is grateful for the contributions of these incredible leaders in science and technology. These recipients are helping ensure America keeps leading the world in innovation", White House spokesperson Liz Huston said in an emailed statement to MT Newswires.