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A joint venture between Oracle, Open AI, and SoftBank called Stargate will invest at least $500 billion into American AI infrastructure, according to President Donald Trump.
By: Brad Randall, Broadband Communities
The leaders of three tech companies joined President Donald Trump in the White House this week as he promoted a new joint venture called Stargate.
The joint venture, which includes Oracle, OpenAI, and SoftBank, will invest “$500 billion at least in AI infrastructure in the United States,” Trump said Tuesday.
Trump said he expects Stargate to create over 100,000 American jobs “almost immediately.”
“This monumental undertaking is a resounding declaration of confidence in America’s potential under a new president,” Trump said to reporters while discussing the joint venture.
Trump’s comments continued. He additionally said the joint venture’s goal was to keep AI technology in the United States.
“We want to keep it in this country,” he said. “China’s a competitor. Others are competitors.”
Tech CEOs join Trump at White House
Joining Trump for his comments at the White House were Sam Altman, the CEO of OpenAI, and Larry Ellison, the CTO for Oracle. Also joining him was Masayoshi Son, the CEO of SoftBank.
“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,” he said.
According to the Associated Press, the origins of the joint venture date back to 2024.
Previously, SoftBank’s CEO committed to invest $100 billion into U.S. projects over the next several years.
The investment was announced in December at Mar-a-Lago, Donald Trump’s Florida resort, the AP reported.
Speaking at the White House yesterday, Son said the investment represents the beginning of a “golden age” in the United States.
A statement posted yesterday on X by OpenAI said the joint venture would begin deploying money immediately.
“This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world,” the statement read. “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.”
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