US President Donald Trump has announced an investment of US $ 500 billion in artificial intelligence (AI) infrastructure through a new company. It is being built in partnership with Oracle, SoftBank and Open AI.
The venture, named ‘Stargate’, represents a significant investment by technology companies in US data centres. These three companies plan to provide financial help for this venture. Other investors will also be able to invest in it
It will start with 10 data centers under construction in Texas. Trump announced this at a press conference at the White House on Tuesday, along with Oracle Chief Technology Officer Larry Ellison, SoftBank Chief Executive Officer (CEO) Masayoshi Son and Open AI CEO Sam Altman.
“Get that name down in your books because I think you’re going to hear a lot about it in the future,” the President said. A new American company that will invest US$500 billion in AI infrastructure in the US and will scale extremely quickly and immediately create over 100,000 American jobs.”
“Stargate will begin work immediately to build the physical and virtual infrastructure to power the next generation of advances in AI,” he said.
