:max_bytes(150000):strip_icc()/GettyImages-2193659092-a4314c59dbb049d1b46854773b9b1ed0.jpg?w=1920&resize=1920,1267&ssl=1 "Trump Announces 0B AI Joint Venture With Oracle, OpenAI, and SoftBank | Global News Avenue")
Trump Announces $500B AI Joint Venture With Oracle, OpenAI, and SoftBank
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Main points
- President Trump on Tuesday announced a joint venture with Oracle, OpenAI and SoftBank to build artificial intelligence infrastructure in the United States
- The two companies said they would invest $100 billion to launch the program, called Stargate, and invest as much as $500 billion over the next four years.
- Oracle shares soared on Tuesday ahead of the news, rising more than 50% in the past 12 months.
President Donald Trump announces joint venture with Oracle on TuesdayORCL), OpenAI and SoftBank put up AI America’s infrastructure
The companies said they would invest $100 billion to start the program and spend up to $500 billion over the next four years on the initiative, which Trump has called “the largest artificial intelligence infrastructure project in history.”
OpenAI said it expects the project, called Stargate, to help support U.S. leadership in artificial intelligence and could create “hundreds of thousands” of jobs in the United States.
this Chat GPT The manufacturer also stated that Nvidia (NVDA),Microsoft(Microsoft Corporation) and arm (arm) will be a key technical partner in the project.
OpenAI CEO Sam AltmanOracle Chief Technology Officer and former CEO Larry Ellison and SoftBank CEO Masayoshi Son made the announcement alongside Trump at the White House on Tuesday.
Before the news was announced, Oracle’s stock price soared, closing up more than 7% on the day and more than 50% in the past 12 months.
Updated – January. February 21, 2025: This article has been updated since it was first published to add more news, commentary and background information.
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