Trump Unveils $500B AI Venture Led by SoftBank

A consortium led by SoftBank, OpenAI, and Oracle has launched a $500 billion joint venture named Stargate to develop AI infrastructure in the United States, as announced by President Donald Trump. This initiative, the largest AI infrastructure project to date, will start with a $100 billion investment and is expected to create over 100,000 American jobs. Key initial technology partners include Arm, Microsoft, NVIDIA, and other tech giants, with the first data center already under construction in Texas. The venture aims to secure U.S. leadership in AI, with implications for economic growth and national security. President Trump has emphasized the project's importance, citing it as a strategic move to keep AI investments within the U.S. rather than losing them to China. The announcement has positively impacted stocks of involved companies like Oracle, which saw a significant rise in share prices.