Trump announces private-sector $500 billion investment in AI infrastructure

Published on January 22, 2025

Jan 21 (Reuters) - U.S. President Donald Trump on Tuesday announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology. Trump said that ChatGPT's creator OpenAI, SoftBank (9984.T), opens new tab and Oracle (ORCL.N), opens new tab are planning a joint venture called Stargate, which he said will build data centers and create more than 100,000 jobs in the United States.

These companies, along with other equity backers of Stargate, have committed $100 billion for immediate deployment, with the remaining investment expected to occur over the next four years.
SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle Chairman Larry Ellison joined Trump at the White House for the launch.
The first of the project's data centers are already under construction in Texas, Ellison said at the press conference. Twenty will be built, half a million square feet each, he said. The project could power AI that analyzes electronic health records and helps doctors care for their patients, Ellison said.
 
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