Trump to announce up to $500 billion in private sector AI infrastructure investment
According to CBS News, President Trump will announce billions of dollars in investments in the private sector to build artificial intelligence infrastructure in the United States.
According to multiple people familiar with the matter, OpenAI, SoftBank and Oracle are planning to establish a joint venture called Stargate.
SoftBank CEO Masayoshi Son is expected to arrive at the White House on Tuesday afternoon, along with OpenAI’s Sam Altman and Oracle’s Larry Ellison.
Executives at the companies are expected to say they plan to invest $100 billion initially and up to $500 billion over the next four years into Stargate. Other details of the new partnership were not immediately available.
Spokespersons for SoftBank and OpenAI declined to comment.
Stargate will start with a data center project in Texas and eventually expand to other states, sources said. Other investors are expected to join the venture, but it is not yet clear which ones.
