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Donald Trump is set to unveil billions of dollars of private investment in a new artificial intelligence startup backed by OpenAI, SoftBank and Oracle.
Named Stargate, the joint venture was poised to receive an initial $100bn capital injection from the tech giants, rising to $500bn over the next four years, according to two of the people. know this. Microsoft was also involved in the project, one of the people said on Tuesday.
Stargate will be announced by the president at the White House on Tuesday afternoon, with SoftBank chief Masayoshi Son, OpenAI chief Sam Altman and Oracle co-founder Larry Ellison in attendance.
The plans, first reported by CBS News, come as tech executives look to court Trump, who began his second term in the White House on Monday surrounded by many of the industry’s biggest names.
Stargate aims to boost the ability to train and deploy new AI models. It will begin building a data center project in Texas before expanding to other states, people briefed on the plans said.
OpenAI declined to comment, while Microsoft, Oracle and SoftBank did not respond to requests for comment.
This is an ongoing story
