The Stargate project, a groundbreaking joint venture involving SoftBank, OpenAI, Oracle, and UAE-based lender MGX, aims to transform the American artificial intelligence landscape with an unprecedented $500 billion investment. Unveiled by President Donald Trump at the White House on his first full day in office, the project seeks to bolster the United States' AI infrastructure through the construction of advanced data centers. The ambitious initiative promises to generate over 100,000 jobs in the U.S. almost immediately, signaling a profound economic impact.
SoftBank CEO Masayoshi Son will serve as chairman of the new company overseeing the Stargate project. Meanwhile, Oracle co-founder Larry Ellison announced that ten data centers, each spanning 500,000 square feet, are already under construction in Abilene, Texas. Microsoft has emerged as a key technology partner, although CEO Satya Nadella noted his limited involvement in the investment details.
"I'm not particularly in the details on what they're investing." – Satya Nadella
The project will immediately deploy $100 billion to fast-track development. Despite this substantial commitment, reports indicate that SoftBank has secured under $10 billion for the venture. Elon Musk, who maintains a tense relationship with OpenAI CEO Sam Altman and has sued OpenAI over breach-of-contract allegations, confirmed this detail.
"SoftBank has well under $10B secured. I have that on good authority," – Elon Musk
Sam Altman previously expressed admiration for Musk's entrepreneurial spirit, highlighting the complex dynamics at play within the venture.
"I genuinely respect your accomplishments and think you are the most inspiring entrepreneur of our time." – Sam Altman
In a bold statement during the unveiling, President Trump expressed optimism about the project's potential impact on the nation.
"It'll lead to something that could be the biggest of all." – Donald Trump
Oracle shares experienced a 7% surge following the announcement, reflecting investor confidence in the project’s prospects. As the initiative progresses, industry leaders and stakeholders eagerly anticipate its potential to reshape AI capabilities and infrastructure across the United States.
Satya Nadella reassured stakeholders about Microsoft's significant financial backing for the venture.
"Look, all I know is, I'm good for my $80 billion." – Satya Nadella