Trump Announces Massive AI Infrastructure Investment with Stargate Joint Venture

U.S. President Donald Trump announces a $500 billion private sector investment for AI infrastructure. A Texas-based venture, Stargate, backed by OpenAI, SoftBank, and Oracle, aims to develop AI supercomputing capabilities. This move comes after reversing Joe Biden's AI executive order, raising power supply concerns.

U.S. President Donald Trump announced a significant boost to artificial intelligence infrastructure with a pledge of up to $500 billion in private sector investment. The announcement was made from the White House and involves a joint venture called Stargate, located in Texas, drawing support from OpenAI, SoftBank, and Oracle.

The venture partners, including SoftBank CEO Masayoshi Son, OpenAI's Sam Altman, and Oracle's Larry Ellison, joined Trump to reveal the initial plan of $100 billion investment, with the potential to scale to $500 billion over four years. This initiative arrives on the heels of reversing former President Joe Biden's executive order on AI risks.

Stargate aims to provide the computing power necessary for technological growth, requiring extensive data centers to meet the rising demand. Trump highlighted streamlined energy production solutions for these new facilities amid concerns over future power supply shortages as AI continues to transform industries extensively.

(With inputs from agencies.)