US President Donald Trump has announced a historic joint venture with SoftBank Group Corp., OpenAI, and Oracle Corp. to fund artificial intelligence (AI) infrastructure worth $100 billion. The venture aims to accelerate the development of AI technology in the United States.
The initiative, dubbed “Stargate,” will deploy its funds immediately and is expected to grow to at least $500 billion. Initial equity for the project comes from SoftBank, OpenAI, Oracle, and Abu Dhabi state investor MGX. Arm Holdings Plc, Microsoft Corp., and Nvidia Corp. will provide technology support.
The venture’s chairman, Masayoshi Son of SoftBank, said that the initial computing system will start construction in Texas. The joint venture will focus on building data centers and physical campuses to support OpenAI’s AI development.
President Trump expressed his enthusiasm for the initiative, stating that it marks a significant investment in US technology, with an unprecedented level of capital coming into the country. However, some analysts have raised concerns about the feasibility of the project, citing SoftBank’s financial strain as a potential risk factor.
The joint venture has sparked interest from tech industry leaders and investors, including Elon Musk, who is one of Trump’s closest advisers. The initiative aims to boost US economic growth by leveraging AI technology in various fields, such as healthcare and energy.
Source: https://finance.yahoo.com/news/trump-unveils-ai-investment-plan-225351558.html