The Upcoming AI Boon - Stargate and the U.S. Governments $100B investment
Added 2025-01-22 00:42:36 +0000 UTCThree major business leaders—SoftBank Group CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle Corp. Chairman Larry Ellison—joined President Donald Trump on Tuesday afternoon at the White House to announce the creation of a new company called Stargate.
"Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI," Trump said. "The Stargate project, I think it's going to be something that's very special. It could lead to something that's the biggest of all."
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Texas-based Stargate will invest up to $500 billion over the next four years in AI infrastructure. The initial investment is expected to be $100 billion and could reach five times that sum, according to The Associated Press. Trump also announced that it will create over 100,000 jobs.
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