OpenAI and SoftBank are leading a joint venture that plans to spend $500 billion on AI infrastructure in the United States. The project was underway before today, but the announcement was saved for President Trump's first week back in office—the president was joined on Tuesday by OpenAI founder Sam Altman, Softbank CEO Masayoshi Son, and Oracle founder Larry Ellison to talk up the new company.
The venture is called Stargate, but has nothing to do with an Egyptian wormhole, I'm afraid. It's being run by OpenAI and Softbank, and the goal is to spend $500 billion to build AI infrastructure in the US over four years, with $100 billion being deployed now. The first facility is already being built in Texas, OpenAI said in a statement, and the ChatGPT company is "evaluating potential sites across the country for more campuses." Trump claims the project will create 100,000 American jobs "almost immediately."
