Japanese multinational investment holding firm SoftBank, and American tech companies OpenAI and Oracle have announced a partnership to establish a $500 billion AI data center company.
On Wednesday, Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of OpenAI, and Larry Ellison, CEO of Oracle, joined Donald Trump at a White House press briefing to unveil the plan to construct an artificial intelligence data center system.
The companies, along with MGX, are identified as “initial equity funders” for $500 billion in investments for the initiative tagged “The Stargate Project” and are focused on “building new AI infrastructure for OpenAI in the United States.”
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‘The Stargate Project’, which is starting its build-out in the city of Texas, is also supported by other big tech companies, including Microsoft, Nvidia, and Arm.
The first tech partners are “Arm, Microsoft, NVIDIA, Oracle, and OpenAI,” according to a statement from OpenAI. A buildout is “currently underway” in Texas as additional locations throughout the nation are being assessed. Additionally, it states that “this computing system will be built and operated in close collaboration with Oracle, NVIDIA, and OpenAI.”
Son and Altman addressed Trump directly during a news conference unveiling the project, which has been reported since early last year, and insisted that the project only occurred as a result of Trump’s election triumph.