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Trump announces $500 billion ‘Stargate’ AI project
President Trump unveiled a massive artificial intelligence infrastructure project Tuesday, announcing that Softbank, OpenAI and Oracle have joined forces for a project called Stargate, to build data centers in the U.S. for powering AI. Trump says The initial investment for the project will be $100 billion, with plans to expand to $500 billion over the next four years. Trump called it “the largest AI infrastructure project, by far, in history.”
LOS ANGELES – President Donald Trump announced investments worth up to $500 billion for infrastructure tied to artifical intelligence on Tuesday.
Speaking from the White House, Trump said the investment is “the largest AI infrastructure project, by far, in history.”
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The CEOs of three tech firms – OpenAI’s Sam Altman, Oracle’s Larry Ellison, and Softbank’s Masayoshi Son – joined Trump for the announcement.
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The new entity created through the collaborative efforts, Stargate, will start building out projects needed for the further development of the fast-evolving AI in Texas, according to the White House.
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What is Stargate?
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Stargate is a project aimed at building data centers in the United States that will power AI.
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The initial investment for the project will be $100 billion, with plans to expand to $500 billion over the next four years. The first data center built under the initiative will be in Texas, and it will eventually expand to other states.
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Trump was working to drum up private business investments in the U.S. prior to his second term. Last month, Son joined Trump in announcing Softbank’s plans for a $100 billion investment in America aimed at generating 100,000 new jobs.
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Building on Biden’s bill
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The backstory:
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As a candidate in 2016, Trump promised to push a $1 trillion infrastructure bill through Congress. He talked about the topic as president often during his first term from 2017 to 2021, but it did not come to fruition.
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Former President Joe Biden signed a $1 trillion infrastructure bill into law in 2021 with Republican and Democrat lawmakers to fund thousands of projects to rebuild roads and bridges and fund new climate resilience and broadband initiatives.
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The second Trump administration and the new Congress will have opportunities to put their stamp on the infrastructure law Biden passed. Agency officials will be able to award tens of billions of dollars in remaining competitive grants, Brookings Institution said in a blog in November.
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The Source: Information for this article was gathered from FOX Business and The Associated Press. This story was reported from Los Angeles.
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