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.
Oracle founder Larry Ellison said the Stargate project, a joint venture with OpenAI and Softbank, will help to fuel the development of a cancer vaccine.
The $500B Stargate Initiative, led by Trump, OpenAI, SoftBank, and Oracle, is set to revolutionize U.S. AI infrastructure.
SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.
Larry Ellison unveiled plans for an AI-driven cancer vaccine system that could deliver personalized treatments within 48 hours.
Larry, let’s negotiate in front of the media,” Trump said at a press conference with the Oracle co-founder, SoftBank CEO Masa Son, and OpenAI CEO Sam Altman to announce a $500 billion artificial intelligence infrastructure investment.
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.
The Trump Administration has announced an AI infrastructure joint venture in the U.S. named “Stargate,” comprised of OpenAI, SoftBank Group (OTC:SFTBF) (OTC:SFTBY), Oracle Corp (NYSE:ORCL), and Abu Dhabi’s MGX.
Explore the pros and cons of the first round of technology developments from President Trump's first week in office. What impact will his bold tech moves have?
Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.
Musk's stance on the issue also contradicts Trump's announcement, who on Tuesday at a White House news conference along with Oracle Chief Technology Officer Larry Ellison, Softbank CEO Masayoshi Son and Open AI CEO Sam Altman,