President Donald Trump announced on Tuesday a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology.
The initiative, named “Stargate,” is a joint venture between OpenAI, SoftBank Group Corp., and Oracle Corp.
“What we want to do is we want to keep it in this country,” Trump stated during the announcement.
Executives from the companies are expected to commit $500 billion into Stargate over the next four years.
Larry Ellison, Oracle’s Executive Chairman, revealed that ten data centers are already under construction in Texas, with plans for more in other states.
SoftBank CEO Masayoshi Son emphasized the project’s significance, stating, “This is the beginning of our golden age.”
The Stargate initiative is expected to create over 100,000 American jobs, with an initial $100 billion investment and plans to scale up to $500 billion over four years.
In conjunction with the announcement, Trump signed an executive order rescinding a Biden-era directive that established safety guidelines for generative AI, aiming to streamline the project’s development.
The Stargate project underscores the administration’s commitment to bolstering the nation’s AI capabilities and maintaining a competitive edge in the global technology landscape.