President Donald Trump announced a joint venture with OpenAI, Oracle and Softbank to invest billions of dollars in artificial intelligence infrastructure in the U.S.
The project, dubbed Stargate, was unveiled at the White House by Trump, Softbank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle co-founder Larry Ellison.
The executives committed to invest an initial $100 billion and up to $500 billion over the next four years in the project, which will be set up as a separate company.
Softbank’s Son had reportedly already promised a four-year, $100-billion investment when he recently visited then-President-elect Trump at his Mar-a-Lago resort.
And this new AI investment is over and above the investments from the likes of Microsoft, Google, Apple, Anthropic and many others already in progress.