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Donald Trump is set to unveil billions of dollars in private investment in a new massive artificial intelligence infrastructure backed by OpenAI, SoftBank and Oracle.
Named Stargate, the joint venture was about to receive an initial $100 billion cash infusion from the tech giants, which could grow to $500 billion over the next four years, according to two people familiar with the matter.
Microsoft was also involved in the project as a technology partner, one of the sources said on Tuesday.
Stargate will be announced by the president at the White House on Tuesday afternoon, in the presence of SoftBank chief Masayoshi Son, OpenAI boss Sam Altman and Oracle co-founder Larry Ellison.
The plans, which were first reported by CBS News, come as tech executives seek to court Trump, who began a second term in the White House on Monday surrounded by many of the industry’s biggest names .
Stargate aims to build the capacity to train and run new AI models. It will initially build a data center project in Texas before expanding to other states, the people briefed on the plans said.
OpenAI declined to comment, while Microsoft, Oracle and SoftBank did not respond to requests for comment. Other investors and technology partners are also expected to join the project.
The rapid development of AI systems over the past two years has strained U.S. infrastructure, with data centers becoming a particular bottleneck. Cutting-edge models such as OpenAI’s ChatGPT, Google’s Gemini, and Anthropic’s Claude chatbots require enormous amounts of data and computing power to train and run.
This sparked discussions between Amnesty International leaders, their business partners and the government on modernizing national infrastructure.
Earlier this month, Hussain Sajwani, chairman of Dubai-based real estate developer Damac, announced plans to invest at least $20 billion in U.S. data centers during a meeting with Trump at his data center. Mar-a-Lago in Florida.
Figures in the AI industry, including OpenAI’s Altman, have argued that better infrastructure is key to developing the next stage of AI models and competing with China for dominance of the technology.
Altman said earlier this month that the Trump administration could boost domestic AI companies with “American-built infrastructure and a lot of it.”
“What I deeply agree with the president on is that it is incredibly difficult to build things in the United States. Power plants, data centers, all that kind of stuff,” he said in an interview with Bloomberg.
In his inaugural address Monday, Trump promised that the United States was on the brink of an “exciting new era of national success,” but made no specific mention of AI technology.
Last month, Trump called SoftBank’s separate pledge to invest $100 billion in the United States a “monumental demonstration of confidence in America’s future.” It was unclear whether the investment in Stargate would be part of SoftBank’s earlier commitment.
Additional reporting by Rafe Uddin and Alex Rogers
