Trump Highlights $500 Billion AI Initiative by SoftBank, Oracle, and OpenAI.

US President Donald Trump announced a massive investment in artificial intelligence infrastructure backed by Japanese conglomerate Softbank, cloud giant Oracle, and ChatGPT creator OpenAI.

The company, known as Stargate, "will invest $500 billion, at least, in AI infrastructure in the United States," Trump says in remarks at the White House.

"This monumental undertaking is a resounding declaration of confidence in America's potential," adds the governor. 

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle founder Larry Ellison also attended the event.

According to Son, their project is committed to investing $100 billion initially and up to $500 billion over the next four years.

The endeavour comes as significant technology companies scramble to meet AI's insatiable computational demands and locate the electricity needed to expand the new technology. 

According to Trump, Stargate will establish the physical and virtual infrastructure to support the next generation of AI advancements, including "colossal data centres."

In a subsequent X post, OpenAI claims that the project "will support the re-industrialization of the United States and provide a strategic capability to protect the national security of America and its allies."