Trump was joined by Oracle founder Larry Ellison, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son, who said the investment would start with $100 billion, plus a goal of $500 billion over the course of four years. Son said Abu Dhabi-based investment partner MGX would be involved, along with tech juggernauts Nvidia and Microsoft. Son noted that the latter had been very supportive of Altman and OpenAI and would continue to be,
Fortune reported.
“After that, artificial super intelligence will come to solve the issues that mankind never ever thought that we could solve,” said Son at the White House briefing. He declared the dawn of a new golden age.
In a statement, OpenAI said the initial equity funders are SoftBank, OpenAI, and MGX with SoftBank and OpenAI as the lead partners for Stargate. OpenAI will have operational responsibility and Son will be the chairman of Stargate. Arm, Microsoft, Nvidia, Oracle, and OpenAI are the project’s “key initial technology partners.”
The announcement comes a day after Trump signed an executive order rescinding a Biden-era executive order regulating AI.
According to Trump, the new company will create more then 100,000 American jobs.
Stargate will open a data center project in Texas and later expand to other states.
