BREAKING: Trump announces ‘Project Stargate,’ $500 billion AI infrastructure investment with OpenAI, Oracle, Softbank

Trump said that the project would invest $500 billion in the US "at least" and would create over 100,000 American jobs. "It’ll ensure the future of technology," Trump said. "What we want to do is we want to keep it in this country. China is a competitor, and others are competitors." He later added, "Immediately, Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI, and this will include the construction of colossal data centers."

In a press release from OpenAI and Softbank, the companies said that they are the lead partners for Stargate, with SoftBank having financial responsibility and OpenAI having operational responsibility. Son will be the chairman of the company. Initial equity funders are SoftBank, OpenAI, Oracle, and MGX. Key initial technology partners include Microsoft, NVIDIA, Arm, and OpenAI.

"This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world. This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies," the press release stated. The company intends to invest $500 billion over the next four years, with $100 billion being deployed immediately.

Trump was joined in the White House by Oracle executive chairman Larry Ellison, SoftBank CEO Masayoshi Son, and OpenAI CEO Sam Altman for the announcement.

This is a breaking story. Please refresh the page for updates.