OpenAI, Softbank and Oracle Launch Stargate, a $500 Billion Venture to Make the US an AI Superpower

Donald Trump announced the start of a plan to create a network of data centers for artificial intelligence in the United States. As part of the project, OpenAI, Softbank, Oracle and the UAE-based MGX fund announced the creation of a joint venture called Stargate, in which they will invest up to $500 billion over the next four years to “create new artificial intelligence infrastructure.”

Image source: NVIDIA

During a press conference at the White House, the American president was joined by the heads of the mentioned companies participating in the Stargate project. OpenAI, Softbank, Oracle and MGX were announced as “initial equity investors”, with Microsoft, Arm and Nvidia as initial technology partners. It is noted that the Stargate project has already begun, construction is “currently underway” in Texas, and in parallel, other sites are being searched across the country. It was also said that “Oracle, Nvidia and OpenAI will work closely together to build and operate this computing system.”

Separately, Microsoft announced an update to its partnership with OpenAI, allowing the latter to use third-party cloud capacity and adding that key elements of the agreement between the two companies will remain in force until 2030. We are talking, among other things, about Microsoft’s access to OpenAI’s intellectual property, an agreement on revenue distribution, etc.

Project participants expect that its implementation will ensure US leadership in the field of artificial intelligence and create hundreds of thousands of jobs. Earlier this month it was also reported that UAE company DAMAC intends to invest $20 billion in the construction of data centers in the United States.