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Donald Trump is set to unveil billions of dollars in private investment in a massive new artificial intelligence infrastructure venture backed by OpenAI, SoftBank and Oracle.
Named Stargate, the joint venture was about to receive an initial $100 billion cash infusion from the tech giants, which could grow to $500 billion over the next four years, according to two people familiar with the matter. Microsoft was also involved in the project, one of the sources said Tuesday.
Stargate will be announced by the president at the White House on Tuesday afternoon, in the presence of SoftBank chief Masayoshi Son, OpenAI boss Sam Altman and Oracle co-founder Larry Ellison.
The plans, first reported by CBS News, come as tech executives seek 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 build the capacity to train and run new AI models. It will initially build a data center project in Texas before expanding to 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