President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

OpenAI, SoftBank Group, Abu Dhabi, and Oracle are among the players in a joint venture meant to pour hundreds of billions more into AI data center funding.

Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.

The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.

The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.

U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together

On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

SoftBank in India, like in many other parts of the world, is known for its investment in budding startups in various technologically driven avenues. On Wednesday, January 22, the company shares soared in the equity markets in Tokyo.

SoftBank shares surged — on five times the previous day’s volume — on Wednesday after the Japanese investment group landed a starring role in an U.S. artificial intelligence infrastructure buildout package backed by President Donald Trump.