Oracle, SoftBank, OpenAI To Invest $500-B In U.S. AI Infrastructure

President Trump announced on Tuesday a massive investment in artificial intelligence (AI) infrastructure in the U.S. through a joint venture called the Stargate Project.

The initial equity funders include SoftBank, OpenAI, and Abu Dhabi-based investment partner MGX. I Photo: ソフトバンク（SoftBank) Facebook 

Amanda Gerut reported for Fortune’s Data Sheet that the investment will be backed by a series of executive orders to ensure sufficient energy supply for the data centers connected to the project.

Trump was joined by Oracle founder Larry Ellison, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son, who stated that the venture would begin with a $100 billion investment and a four-year goal of reaching $500 billion.

The initial equity funders include SoftBank, OpenAI, and Abu Dhabi-based investment partner MGX.

OpenAI will handle operational responsibilities, while Son will chair the Stargate Project. Key technology partners include Arm, Microsoft, Nvidia, Oracle, and OpenAI. Ellison highlighted the potential applications of AI advancements, predicting a revolution in healthcare.

He cited early cancer detection and the development of a cancer vaccine as examples. Ellison also mentioned that 10 data centers are already under construction, with plans to expand infrastructure beyond the project’s first location in Abilene, Texas.