Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

Working alongside companies such as OpenAI and Softbank, Trump's new Stargate project aims to herald the "golden age" of AI.

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

Elon Musk claimed overnight Tuesday that tech giants OpenAI, Oracle and Softbank don’t have enough money to fulfill their high-profile pledge to invest $500 billion in U.S. AI infrastructure.

Shortly after President Donald Trump announced a new massive AI infrastructure investment from the White House, “First Buddy” Elon Musk tried to tear it down.

A new company called Stargate, which combines some of the largest names in the artificial intelligence industry, was announced by President Donald Trump.