In order to spend billions of dollars in AI infrastructure in the US, President Donald Trump announced on Tuesday a joint venture with OpenAI, Oraclean, and Softbank.
Trump, Softbank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle co-founder Larry Ellison presented the initiative, which was named Stargate, at the White House.
The project will be established as a distinct firm, and the CEOs pledged to invest an initial $100 billion and up to $500 billion over the following four years.
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Regarding AI, Trump stated, “What we want to do is we want to keep it in this country,” pointing out that China is a significant rival in the fledgling sector.
Ellison stated at the Roosevelt Room that Stargate’s first joint venture will be building data centers in Texas, an endeavor that is currently under way.
In a subsequent X post, OpenAI stated that the initiative will not only aid in the reindustrialization of the US but also offer a strategic capability to safeguard US and allied national security.
The chairman of Stargate will be Softbank’s son, and the company’s primary early technological partners will include Arm, Microsoft, NVIDIA, Oracle, and OpenAI, according to OpenAI’s post.
When Son visited then-President-elect Trump’s Mar-a-Lago resort in December, he already unveiled a $100 billion, four-year AI investment in the US.
Trump joked at the time that he had pressured Son to increase his pledge to $200 billion.
Son joked in the White House on Tuesday, “Now I came back with $500 [billion].”
Trump implied in his comments that the $500 billion amount would be distinct from Son’s earlier commitment.
According to Trump, the $500 billion Stargate Project is in addition to a separate commitment of between $100 and $200 billion from Masa.
The story is still evolving. For updates, please return.