Trump announces a $500 billion AI infrastructure investment in the US

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Chairman of Oracle appeared is set to appear at the White House Tuesday afternoon alongside President Donald Trump and other tech CEOs to announce a massive private sector investment in artificial intelligence infrastructure in the United States., a source familiar with the discussions confirmed to CNN.

Three top tech firms on Tuesday announced that they will create a new company, called Stargate, to grow artificial intelligence infrastructure in the United States. OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Oracle Chairman Larry Ellison appeared at the White House Tuesday afternoon alongside President Donald Trump to announce the company, which Trump called the “largest AI infrastructure project in history.” The companies will invest $100 billion in the project to start, with plans to pour up to $500 billion Stargate in the coming years. The project is expected to create 100,000 US jobs, Trump said. Stargate will build “the physical and virtual infrastructure to power the next generation of AI,” including data centers around the country, Trump said. Ellison said the group’s first, 1 million-square foot data project is already under construction in Texas. AI leaders have for months been sounding the alarm that more data centers — as well as the chips and electricity and water resources to run them — are needed to power their artificial intelligence ambitions in the coming years. “I think this will be the most important project of this era,” Altman said on Tuesday. “We wouldn’t be able to do this without you, Mr. President.”