SoftBank, Oracle, MGX form Stargate Project with ChatGPT maker, intend to outspend Microsoft this year Updated OpenAI, Oracle, SoftBank, and investment firm MGX on Tuesday announced plans to spend as much as $500 billion on AI infrastructure in America over the next four years,
Shares of Nvidia, Microsoft, Oracle, and other AI-related companies surged Wednesday after the Trump administration’s announcement of a $500 billion joint venture spurred optimism about a rising tide of AI investments.
The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.
A plan to build a system of data centers for artificial intelligence has been revealed in a White House press conference, with Masayoshi Son, Sam Altman, and Larry Ellison joining Donald Trump to announce The Stargate Project.
Nvidia gained ground today following the announcement of Stargate -- a new joint company formed by OpenAI, Oracle, and Softbank. The three partners have announced they will soon be investing $100 billion in U.S. AI infrastructure -- and the development bodes well for Nvidia.
The Stargate Project will focus on building data centres dedicated exclusively to OpenAI as the company continues to expand its generative AI computing capabilities
Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.
The new agreement “includes changes to the exclusivity on new capacity, moving to a model where Microsoft has a right of first refusal (ROFR),” Microsoft says. “To further support OpenAI, Microsoft has approved OpenAI’s ability to build additional capacity, primarily for research and training of models.”
OpenAI will build and open AI infrastructure worth $500 billion in the United States over the next four years in partnership with SoftBank.
The top tech companies Tuesday announced that they will create a new company, called Stargate, to grow artificial intelligence infrastructure in the United States. OpenAI CEO Sam Altman has shown support for Donald Trump,