$500B Private Investment Announced for US AI Infrastructure with Major Tech Companies Onboard
In a groundbreaking move, President Donald Trump unveiled a colossal $500 billion private sector investment aimed at bolstering artificial intelligence (AI) infrastructure across the United States. Oracle (ORCL), OpenAI, and SoftBank are among the prominent companies pledging their support for this ambitious joint venture.
Dubbed "Stargate," the initiative will initially focus on establishing a data center project in Texas. Other companies are expected to join the consortium, bringing the total investment to half a trillion dollars in the years to come.
Oracle's stock surged 7% on Tuesday, demonstrating the market's enthusiasm for the partnership. SoftBank CEO Masayoshi Son, OpenAI Chief Sam Altman, and Oracle CEO Larry Ellison graced the event with their presence.
Trump optimistically asserted that the venture would create "over 100,000 American jobs almost immediately." This announcement comes amidst a broader executive action by Trump that rescinded Biden-era safety guidelines for generative AI, empowering tech giants to self-regulate.
Industry leaders like Jeff Bezos (Amazon), Mark Zuckerberg (Meta), and Tim Cook (Apple) attended Trump's inauguration, marking the industry's alignment with the administration's tech-forward policies.