Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

Elon Musk claimed overnight Tuesday that tech giants OpenAI, Oracle and Softbank don’t have enough money to fulfill their high-profile pledge to invest $500 billion in U.S. AI infrastructure.

On his first full day in office, President Donald Trump announced a half-trillion-dollar AI initiative that will begin at Abilene's Lancium campus.

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

President Donald Trump is supporting the newly formed Stargate to advance AI as construction on the company's first data center gets underway in Abilene.

Trump said the private sector joint venture will build data centers and create more than 100,000 jobs in the United States.

The project backed by Oracle, OpenAI, and SoftBank was announced by President Donald Trump Jan. 21, but it's not without its detractors.