President Donald Trump announced a joint venture Tuesday with OpenAI, Oracle and SoftBank of up to $500 billion for infrastructure tied to artificial intelligence.
on Tuesday talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank.
The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of thein Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum.“It’s big money and high quality people,” said Trump, adding that it’s “a resounding declaration of confidence in America’s potential” under his new administration.and Larry Ellison of Oracle.
While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout in data centers and electricity plants needed for the development of AI, which holds the promise of increasing productivity by automating work but also the risk of displacing jobs if poorly implemented.The initial plans for Stargate go back to the Biden administration.
OpenAI wrote in a letter to the Biden administration’s Commerce Department last fall that planning and permitting for such projects “can be lengthy and complex, particularly for energy infrastructure.”Other partners in the project include Microsoft, investor MGX and the chipmakers Arm and NVIDIA, according to separate statements by Oracle and OpenAI.estimated that the U.S. would see $1 trillion invested in data centers over five years, with another $1 trillion being committed internationally.
Those estimates for investments suggest that much of the new capital will go through Stargate as OpenAI has established itself as a sector leader with the 2022 launch of its ChatGPT, a chatbot that captivated the public imagination with its ability to answer complex questions and perform basic business tasks.
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