OpenAI, SoftBank Group Corp. and Oracle Corp. unveiled Project Stargate during a Tuesday press briefing at the White House. The companies intend to build an expansive network of data centers that will be optimized to run AI workloads. OpenAI will be the sole user of the data centers, the Financial Times’ sources said.

OpenAI, SoftBank Group, Abu Dhabi, and Oracle are among the players in a joint venture meant to pour hundreds of billions more into AI data center funding.

"This will be a defining year for AI," Zuckerberg said in a Facebook post. "Over the coming years, it will drive our core products and business."

Key Takeaways Meta Platforms plans to invest $60 billion to $65 billion in capital expenditures this year as the tech giant expands its artificial intelligence efforts, CEO Mark Zuckerberg posted on Facebook Friday.