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.
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.
Stargate "will be the most important project of this era,” OpenAI CEO Sam Altman said Tuesday alongside Trump.
The new joint venture is a partnership between OpenAI, SoftBank, Oracle, and MGX, in which SoftBank will reportedly have financial responsibility, while OpenAI will have operational responsibility. Masayoshi Son, billionaire founder of SoftBank, will serve as chairman.
President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence led by Japanese giant Softbank, cloud giant Oracle and ChatGPT-maker OpenAI.
President Donald Trump announced a joint venture Tuesday with OpenAI, Oracle and SoftBank to invest billions of dollars in AI infrastructure in the United States.
Microsoft will no longer be the exclusive provider of new cloud computing capacity to OpenAI — a new twist in their relationship that clears the way for OpenAI to work with Oracle and others on the $500 billion Stargate AI project announced by the companies Tuesday with President Trump at the White House.
Oracle stock jumped 6% on a report that Trump plans to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the US.
U.S. President Donald Trump announced Stargate, a $500 billion AI infrastructure project that's expected to provide 100,000 jobs and boost the American economy, but Elon Musk believes the three companies leading the project don't have the funds.
The Stargate project, announced at the White House, involves an initial investment of $100bn, with plans to increase this to $500bn over the next four years.
Japanese tech giant SoftBank Group Corp. as well as OpenAI and Oracle Corp. will form a new company that will invest at least $5