President of the United States, Donald Trump made an important announcement on Tuesday regarding private sector investment of up to $500 billion to fund framework for the artificial intelligence. Trump said that Open AI, Softbank and Oracle are collaborating on a joint venture called Stargate. According to him, it will establish data centres and generate more than 100,000 employment opportunities in the United States.
These companies, along with other equity backers of Stargate, have committed approximately $100 billion for fast deployment, with the remaining investment which is expected over the next four years. The SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle Chairman Larry Ellison sat down with Trump at the White House for the launch.
Read more: Trump Meme Coin Suddenly Crashes Back as Melania Coin Shock Hits Crypto
The first of the project’s data centres are already under construction in Texas, with plans to build 20 centres, each half a million square feet. Ellison stated that the project could also power AI that analyses electronic health records, helping doctors care for their patients.
The executives regarded Trump for making it possible. The OpenAI CEO added, “For AGI to get built here, we wouldn’t be able to do this without you, Mr. President.”
In March 2024, The Information, a technology news website, reported that OpenAI and Microsoft were making efforts on plans for a $100 billion data centre project that would include an artificial intelligence supercomputer also called “Stargate” set to launch in 2028.
Stay tuned to Brandsynario for the latest news and updates.