U.S. President Donald Trump on Tuesday, January 21, announced private sector investment of up to $500 billion to fund artificial intelligence infrastructure, Reuters reports.
OpenAI, SoftBank and Oracle plan a Texas-based joint venture called Stargate, and have committed $100 billion initially and then up to $500 billion to Stargate over the next four years.
SoftBank CEO Masayoshi Son, OpenAI’s Sam Altman and Oracle’s Larry Ellison joined Trump at the White House for the launch.
The announcement on Trump’s second day in office follows the rolling back of former President Joe Biden’s executive order on AI, that was intended to reduce the risks artificial intelligence poses to consumers, workers and national security.
AI requires enormous computing power, pushing demand for specialized data centers that enable tech companies to link thousands of chips together in clusters.
