Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.
President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.
The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
A day after his inauguration as US President, Donald Trump unveiled a $100 billion venture to fund artificial intelligence infrastructure, backed by three of the biggest names in tech - OpenAI, SoftBank Group Corp.
The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.
SoftBank Group Corp. (TYO:9984) and OpenAI have each pledged $19 billion to Stargate, a groundbreaking technology initiative focused on AI data centers, The Information reports. OpenAI and SoftBank will each hold a
President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.
U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together
Japan's Nikkei Stock Average rose 0.8% to close at 39958.87 amid risk-on sentiment. "Equities worldwide continued to ride on the wave of U.S.' AI investment announcement, as well as blowout earnings from streaming giant Netflix,
US President Donald Trump announced that OpenAI, SoftBank Group and Oracle will unveil Stargate and invest $500 billion over the next four years to help the United States stay ahead of China and other rivals in the global AI race.