SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
The project backed by Oracle, OpenAI, and SoftBank was announced by President Donald Trump Jan. 21, but it's not without its detractors.
Trump Administration announced Stargate AI infrastructure joint venture, investing $500 billion over 4 years. SoftBank, Oracle, OpenAI, and Abu Dhabi's MGX involved.
Stargate — the joint venture between OpenAI, Softbank and Oracle — is starting its AI infrastructure plans with 10 data centers in Texas.
The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
Joint venture Stargate will be building out data centers and beefing up electricity generation to support the fast-evolving artificial intelligence scene.
SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
S&P 500 E-Mini futures (ESH25) are down -0.20%, andMarch Nasdaq 100 E-Mini futures (NQH25) are down -0.49% this morning, taking a breather after a strong rally this week, with investors turning their attention to U.
OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday, citing OpenAI CEO Sam Altman speaking to colleagues.
The effort was described as a $500 billion investment in artificial intelligence. Read how a small Texas city with a population of about 130,000 fits into the plans.