· 18h
Trump’s AI Push: Understanding The $500 Billion Stargate Initiative
What is Project Stargate? Why this $500-billion AI initiative could herald a 'platform shift'
OpenAI, SoftBank Group, Abu Dhabi, and Oracle are among the players in a joint venture meant to pour hundreds of billions more into AI data center funding.
· 1d · on MSN
Here's what to know about Trump's Stargate AI deal with OpenAI
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.
U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together
President Donald Trump wants his administration to have an action plan for artificial intelligence ready within 180 days. On Thursday, the president signed an executive order calling for the US "to sustain and enhance America's global AI dominance.
Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.
The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.
The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
SoftBank shares surged — on five times the previous day’s volume — on Wednesday after the Japanese investment group landed a starring role in an U.S. artificial intelligence infrastructure buildout package backed by President Donald Trump.
President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.
Netflix shot up 14.6% after it reported adding nearly 19 million subscribers during the holiday-season quarter and it topped sales and profit targets. The video streaming service’s expansion into live programming appears to be paying off as it wrapped up its best year ever with more than $40 billion in revenue.
Mr Donald Trump dismissed criticism from close ally Elon Musk about a US$500 billion AI project. Read more at straitstimes.com.
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