Former President Donald Trump unveiled a significant investment initiative aimed at bolstering artificial intelligence (AI) infrastructure in the U.S. The project, called Stargate, has received support from some of the nation’s leading tech companies, including OpenAI and Oracle.
During a White House event yesterday, Sam Altman, CEO of OpenAI, and Larry Ellison, executive chairman of Oracle, joined Trump to announce the initiative. The Stargate project begins with an initial $100 billion investment to build AI data centers, with the potential for total investments to reach $500 billion.
“We are already underway in Texas and exploring additional sites across the country,” OpenAI stated. The company added that it is finalizing agreements for further expansion. Trump called the project a “monumental undertaking” and emphasized that it represents a strong show of faith in America’s future under a new administration.
The initial equity investors in Stargate include Softbank, OpenAI, Oracle, and MGX. Softbank will manage the financial aspects of the project, with its CEO, Masayoshi Son, serving as the chair. Technology partners involved in the project include Arm, Microsoft, NVIDIA, Oracle, and OpenAI.
“This infrastructure will cement American leadership in AI, create hundreds of thousands of jobs, and offer significant economic benefits worldwide,” OpenAI declared in a statement. The company also emphasized that the project aims to support the re-industrialization of the U.S. while strengthening the nation’s security and that of its allies.
AI holds vast potential to transform the economy, and investors are optimistic about its ability to boost productivity. However, a lack of infrastructure, particularly in data centers, has slowed the technology’s growth. Altman has previously expressed frustration over the challenges of building essential infrastructure to support AI, warning that these hurdles could undermine the U.S.’s competitive edge.
“It is incredibly difficult to build infrastructure like power plants or data centers in the U.S.,” Altman said in a Bloomberg interview. “This has become a major roadblock for progress.”
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