President Trump plans to announce billions of dollars in private investment to build artificial intelligence infrastructure in the United States, CBS News reported.
OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, according to people familiar with the deal.
SoftBank CEO Masayoshi Son is scheduled to arrive at the White House on Tuesday afternoon, along with OpenAI’s Sam Altman and Oracle’s Larry Ellison.
Executives from both companies are expected to say they plan to pump an initial $100 billion into Stargate and up to $500 billion over the next four years. Other details about 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, officials said. Other investors are expected to join the venture, but it was not immediately clear which investors would participate.
