In a big move for the U.S., President Trump revealed a major investment push on Tuesday that will help grow artificial intelligence (AI) and build massive new data centers for OpenAI. This could be a game-changer for tech and jobs in the country!
Here’s what’s happening: OpenAI, SoftBank, Oracle, and the UAE’s MGX have come together to launch a new joint venture called Stargate. They’re starting with a $100 billion investment, with the potential to reach a massive $500 billion over the next four years.
Trump also shared that this project will create over 100,000 new jobs in the U.S. – that’s a lot of opportunities! To kick things off, Stargate will open a data center in Texas and expand to other states soon after.
What’s even more exciting? This announcement is a sign that there’s strong confidence in America’s future, especially under a new president. Trump made this declaration loud and clear at the White House on Tuesday.
Top tech leaders like SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle founder Larry Ellison joined Trump for the big reveal. And to add some more star power, Son will chair the new company. The initial partners in this exciting venture include Arm, Microsoft, NVIDIA, Oracle, and OpenAI.
This announcement follows right after Trump signed an executive order that rolled back a previous order from President Biden on AI regulations.
Looking back, this isn’t the first time SoftBank’s Son has made bold promises. In December 2016, he committed $50 billion in investments right before Trump’s first term began.
While President Trump is taking credit for these major investments, it’s worth noting that the push to build AI data centers has been growing for a couple of years. Whether Trump was in office or not, this influx of money was likely going to happen anyway.
