US President Barack Obama was in Silicon Valley on Thursday night to meet a handful of the biggest names in the tech industry.

Among the subjects likely discussed at the closed meeting was the president's plan to invest in research and development to boost America's high-tech competitiveness, something he spoke about earlier this week.

President Obama: "These investments are an essential part of the budget my administration is sending to Congress. Because I'm convinced that if we out-build and out-innovate and out-educate, as well as out-hustle the rest of the world, the jobs and industries of our time will take root here in the United States. Our people will prosper and our country will succeed."

The White House released a single video clip and a photo, which shows President Obama speaking with Facebook CEO Mark Zuckerberg. Also in the picture were Yahoo CEO Carol Bartz and Google CEO Eric Schmidt.

Other present included Twitter CEO Dick Costolo, Oracle CEO Larry Ellison, Netflix CEO Reed Hastings, Cisco Systems' CEO John Chambers and and Apple CEO Steve Jobs.

Reporters didn't catch a glimpse of Jobs. The head of Apple is currently on medical leave and surrounded by intense speculation about his health.

On Friday, the president will leave San Francisco visit Intel's state-of-the-art chip factory in Hillsboro, Oregon.