· 8h · on MSN
SoftBank Joins OpenAI, Oracle in AI Pact Unveiled by Trump
OpenAI teams up with SoftBank and Oracle on $500B data center project
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
SoftBank Shares Jump After Unveiling $500 Billion Venture With OpenAI
SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.
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.
Anthropic Chief Executive Officer Dario Amodei expressed skepticism about the financing for rival OpenAI’s $500 billion infrastructure venture and called the planned project “a bit chaotic.”
Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”
Microsoft on Tuesday said it has changed some key terms of a deal with OpenAI after the ChatGPT creator announced a joint venture with Oracle and Japan's SoftBank Group to build up to $500 billion of new AI data centers in the United States.
Microsoft has revised key terms in its deal with OpenAI following the latter's joint venture with Oracle and SoftBank to build $500 billion of AI data centers in the US. The initiative, called Stargate,
Elon Musk and OpenAI CEO Sam Altman are fighting on X about Stargate, the infrastructure project to build data centers for OpenAI in the U.S.
According to a Department of Energy (DOE) report last month, the energy demand for U.S. data centers tripled over the past 10 years and is expected to double or triple by 2028. Data centers are also projected to consume between more than 6% to 12% of the U.S.’s electricity by 2028, according to the report.
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.
The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
The Stargate project has big implications for U.S. AI leadership, but also for who's winning the new president's ear.
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