The PresidentAccording to NBC News Peter Alexander and CNBC’s Eamon Javers, Donald Trump will announce a joint venture with OpenAI and Oraclean Softbank on Tuesday to spend billions of dollars in AI infrastructure in the US.
According to people familiar with the idea, Trump, Softbank CEO Masayoshi Son, and executives from Oracle and OpenAI will reveal the initiative, known as Stargate, at the White House.
CBS News, which originally reported on the anticipated announcement, states that the businesses are likely to invest an initial $100 billion and up to $500 billion in the project over the next four years.
According to CBS, Stargate’s first joint venture will be a datacenter located in Texas.
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When Softbank Son visited then-President-elect Trump’s Mar-a-Lago resort in December, he had already promised a $100 billion, four-year AI investment in the US.
It was unclear at first if Son’s previous pledge would be supplemented by the expected investment that was disclosed on Tuesday.
The story is still evolving. For updates, please return.