Donald Trump, the newly elected President of the United States, announced a $500 billion joint venture aimed at advancing artificial intelligence infrastructure. Dubbed the "Stargate" project, this initiative is a collaboration between Texas-based tech giant Oracle, Japan’s SoftBank, and AI leader OpenAI. The announcement was made during a high-profile event at the White House, attended by SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle’s Chief Technology Officer Larry Ellison.

A Historic Investment in AI

President Trump described the venture as the largest AI infrastructure project in history, emphasising its significance for the country’s future. "This is a resounding declaration of confidence in America’s potential under this new administration," he stated. Trump highlighted the fierce global competition in artificial intelligence and underscored the importance of keeping such advancements within the United States. "It’s all happening right here in America," Trump said. "There’s great competition in AI and other technologies. They’re coming in at the highest level."

The Stargate Venture: Details and Scope

The Stargate project begins with an initial commitment of $100 billion, set to grow to $500 billion over the next four years. The funding will be directed toward building massive data centres and other critical infrastructure required to support AI development. Trump described this initiative as a pivotal step to ensure the future of the technology remains secure and thrives domestically.

Key Players and Leadership

SoftBank’s Masayoshi Son will serve as Chairman of the Stargate venture, which will be led by SoftBank and OpenAI. In a statement, OpenAI confirmed its involvement in spearheading the initiative alongside its partners. Oracle’s expertise in technology infrastructure will play a crucial role in the project’s execution.

Global Impact and Market Reaction

Following the announcement, SoftBank’s shares surged by over 8 per cent in Tokyo trading, reflecting investor confidence in the ambitious project. President Trump noted that Stargate would solidify America’s position as a global leader in AI, adding, "What we want to do is keep it in this country. China and others are competitors, and we must ensure this technology remains in America."

The Stargate venture marks a groundbreaking step in the evolution of artificial intelligence. By fostering collaboration between leading tech firms and investing heavily in infrastructure, the U.S. is poised to secure its technological edge on the global stage. This historic initiative underscores the importance of innovation and leadership in shaping the future of AI.