Unlock the White House Watch newsletter for free
Your guide to what the 2024 US election means for Washington and the world
Donald Trump is set to unveil billions of dollars of private investment in a massive new artificial intelligence infrastructure venture backed by OpenAI, SoftBank and Oracle.
Dubbed Stargate, the joint venture was poised to receive an initial cash injection of $100bn from the tech giants, rising to as much as $500bn over the next four years, according to two people familiar with the matter. Microsoft was also involved in the project, one of the people said on Tuesday.
Stargate will be announced by the president at the White House on Tuesday afternoon, with SoftBank chief Masayoshi Son, OpenAI boss Sam Altman and Oracle co-founder Larry Ellison in attendance.
The plans, which were first reported by CBS News, come as tech executives look to court Trump, who began a second term in the White House on Monday surrounded by many of the industry’s biggest names.
Stargate aims to boost capacity to train and run new AI models. It will initially build a data centre project in Texas before expanding into other states, the people briefed on the plans said.
OpenAI declined to comment, while Microsoft, Oracle and SoftBank did not respond to requests for comment.
This is a developing story
