U.S. President Donald Trump has announced a groundbreaking initiative to develop artificial intelligence (AI) infrastructure with $500 billion in private investments. Speaking at an event held at the White House on Tuesday, Trump revealed that OpenAI, SoftBank, and Oracle have jointly launched a project called “Stargate,” which aims to build 20 state-of-the-art data centers. This news was reported by Reuters.
The project’s initial phase will involve an investment of $100 billion, with the remaining funds to be infused incrementally by 2029. Oracle Chairman Larry Ellison confirmed that the first data center is already under construction in Texas. Each center, spanning 500,000 square feet, is expected to create over 100,000 jobs.
At the event, SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman praised Trump’s initiative. Altman remarked, “This investment is critical for advancing artificial general intelligence (AGI).”
Following the announcement, shares of Oracle, Nvidia, and Dell saw a significant increase. However, experts have raised concerns about the strain the AI data centers could place on the U.S. power grid, as increased electricity generation will be required to support the initiative.
The “Stargate” project positions the United States to strengthen its global competitiveness in the rapidly advancing AI sector.
