President Donald Trump, along with OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman Larry Ellison, announced the creation of a new company called Stargate to grow artificial intelligence infrastructure in the United States. The companies will invest $100 billion initially, with plans to invest up to $500 billion in the project. The project aims to create 100,000 US jobs and build data centers around the country to power the next generation of AI. The first 1 million-square foot data center project is already under construction in Texas. The goal is to ensure US remains ahead of China in the AI arms race and attract global investments in AI projects. SoftBank will have financial responsibility for Stargate, while OpenAI will have operational responsibility.
President Trump announced plans to invest $500 billion in the ‘Stargate’ AI project.
US President Donald Trump’s Stargate Project aims to invest $100 billion initially, with a goal of reaching $500 billion in the next four years, to build AI infrastructure across the US. The project, led by OpenAI, SoftBank, and Oracle, has started work on its first data center in Abilene, Texas. The initiative has sparked a feud between Tesla CEO Elon Musk and OpenAI’s Sam Altman over funding concerns. Microsoft, OpenAI’s largest investor, ended its exclusive cloud partnership with OpenAI, indicating potential strain between the two companies. Despite ambitious goals, the project faces skepticism over feasibility and financing. SoftBank and OpenAI have committed $15 billion each, aiming to raise additional funds through equity and debt. SoftBank’s financial capacity has been questioned, with critics like Musk expressing doubts about the project’s viability.
President Trump announced the new $500 billion Stargate AI venture from OpenAI, Softbank, and Oracle to ensure the future of technology in the U.S. The project aims to invest $100 billion initially, with a goal to reach $500 billion within four years. Data centers are being constructed in Texas, with plans for more locations across the nation. Stargate will focus on AI projects like developing a cancer vaccine. The venture is expected to create over 100,000 American jobs. President Trump’s AI policy signals a departure from former President Biden’s approach, emphasizing investment and growth in the AI sector. Despite some skepticism, Wall Street views the Stargate project positively as a way to enhance the nation’s AI capabilities.
President Donald Trump, alongside CEOs Sam Altman, Masayoshi Son, and Larry Ellison, announced the Stargate AI Infrastructure Project on January 21, 2025. The project aims to invest $500 billion in AI infrastructure in the United States, creating over 100,000 jobs. SoftBank, OpenAI, Oracle, and MGX are key partners in the venture. The initiative involves the construction of data centers and promises advancements in AI leading to unprecedented disease cures. President Trump’s announcement followed the rescinding of President Joe Biden’s Executive Order on AI development. The venture is seen as a strategic capability to protect national security.
