Donald Trump on Tuesday announced massive private investment in artificial intelligence infrastructure worth about $500 billion. The announcement, first reported by CBS News, was made with the CEOs of ChatGPT maker OpenAI, Japanese technology investment firm SoftBank and data center giant Oracle.
SoftBank’s Masayoshi Son said the announcement heralded a new “golden age” and reflected the promise Trump made in his second inaugural address. OpenAI’s Sam Altman mentioned President Trump, adding that companies “couldn’t have done this without you, Mr. President.”
The joint venture, called Stargate, will see the companies invest an initial $100 billion and start with construction of a data center in Texas, which Oracle CEO Larry Ellison said is already under construction.
The initiative shares its name with OpenAI and Microsoft’s $100 billion project to build an AI supercomputer. It was first reported by The Information in March of last year. Microsoft is reportedly a “technology partner” for a new project backed by President Trump.
OpenAI’s Altman and other industry leaders have argued that the United States should invest in data centers and AI infrastructure as a matter of national security, allowing it to stay ahead of China technologically. In his announcement, President Trump emphasized the importance of America’s technological advantage and tied it to his campaign promise to increase U.S. energy production.
