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President Donald Trump announced a $500 billion investment in artificial intelligence (AI) backed by OpenAI, SoftBank and Oracle. These three top tech firms will partner to create a new company, Stargate, to grow AI efforts in the United States. Â
On Tuesday afternoon, Trump was joined by OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Oracle Chairman Larry Ellison to announce the new project.Â
Trump declared that Stargate will be building “the physical and virtual infrastructure to power the next generation of advancements in AI,” creating “colossal data centers” across the country, which will bring in over 100,000 American jobs almost immediately.Â
Oracle’s Ellison said the first 10 buildings are under construction in Texas. Each building is half a million square feet and they’re looking to expand to twenty buildings “and other locations.”Â
Ellison discussed Stargate’s ties to digital health records, saying that the project will help doctors better understand the condition of their patients. “A doctor in Indian River Reservation would be able to see how a doctor at Memorial Sloan Kettering would treat the patient, or a doctor at Stanford would treat the patient.”Â
Trump declared that Stargate will be “the largest AI infrastructure project by far in history” and that “it’s a resounding declaration of confidence in America’s potential” with his new presidency.Â
SoftBank’s Son said the companies will initially invest $100 billion into the project. “This is the beginning of our golden age,” he said.Â
OpenAI’s Altman declared, “This will be the most important project of this era.”Â