The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.
Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.
Altman said that a project like Stargate might not have been possible with "a different president."
The Stargate project has big implications for U.S. AI leadership, but also for who's winning the new president's ear.
A plan to build a system of data centers for artificial intelligence has been revealed in a White House press conference, with Masayoshi Son, Sam Altman, and Larry Ellison joining Donald Trump to announce The Stargate Project.
Japanese tech giant SoftBank Group Corp. as well as OpenAI and Oracle Corp. will form a new company that will invest at least $5
SoftBank in India, like in many other parts of the world, is known for its investment in budding startups in various technologically driven avenues. On Wednesday, January 22, the company shares soared in the equity markets in Tokyo. The shares of the Japanese investment group rose after getting a much-needed boost from an unlikely source.
SoftBank, OpenAI, and Oracle are launching a $500 billion joint venture named Stargate to fund AI infrastructure in the U.S. The initiative, praised by President Trump, aims to deploy $100 billion immediately for projects like data centers and cancer research.
SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
Donald Trump and three top tech firms announced on Tuesday that they would create a new company called Stargate to grow artificial intelligence infrastructure in the U.S. The President also said the three companies will collaborate and invest $500 billion in the AI infrastructure project.
The joint venture or alliance, called Stargate, "will invest $500 billion, at least, in AI infrastructure in the United States," Trump said.