‘Stargate’ Joint Venture to Invest in U.S. AI Infrastructure [Video]

WASHINGTON — President Donald Trump 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 the fast-evolving AI in 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.

Joining Trump fresh off his inauguration at the White House were Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle. All three credited Trump for helping to make the project possible, even though building has already started and the project goes back to …