On the second day of his presidency on Tuesday, Donald Trump announced the Stargate Project, a $500 billion joint venture among OpenAI, Softbank, Oracle, and MGX, to build AI-focused data centres across the US.

SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday, citing OpenAI CEO Sam Altman speaking to colleagues.

US President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence (AI) led by Japan’s Softbank Group Corp, cloud giant Oracle Corp and ChatGPT-maker OpenAI.

The president said it will be the largest AI infrastructure ever built and that it will help counter technology threats from China and other countries.

A closer look at OpenAI CEO Sam Altman after President Trump announces a multi-billion dollar joint venture between Altman's company, SoftBank and Oracle, and why it's already drawing the ire of major Trump ally Elon Musk.