President Trump announced on Tuesday a private sector investment of up to $500 billion to build artificial intelligence infrastructure, aiming to outpace rival nations in the business-critical technology.
Trump said the joint venture, called Stargate, will build data centers and create more than 100,000 jobs in the United States. ChatGPT creator OpenAI, Softbank and Oracle, along with other equity backers of Stargate, have committed $100 billion for immediate deployment, with the remaining investment expected over the next four years.
“Immediately, Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI,” said Trump. “And this will include the construction of colossal data centers.”
Ellison said the first of the project’s data centers are currently under construction in Texas. Twenty will be built, half a million square feet each, he said.
CEOs Masayoshi Son of SoftBank and Sam Altman of OpenAI CEO along with Oracle Chairman Larry Ellison joined Trump at the White House for the launch.
