The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
Elon Musk openly questioned whether companies that joined President Donald Trump’s announcement promising hundreds of billions of dollars in artificial intelligence infrastructure could follow through on their promises,
President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.
SoftBank shares surged — on five times the previous day’s volume — on Wednesday after the Japanese investment group landed a starring role in an U.S. artificial intelligence infrastructure buildout package backed by President Donald Trump.
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.
On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."
Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.
Trump was joined by Oracle founder Larry Ellison, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son, who said the investment would start with $100 billion, plus a goal of $500 billion over the course of four years.
Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.
Donald Trump has announced the "Stargate Project." Backed by major tech companies, the project aims to boost AI infrastructure in the U.S.
Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.