From PC Mag: President Trump has announced the launch of Stargate, a joint venture that plans to invest $500 billion over the next four years to develop AI data centers and generate electricity for AI across the US.
“Immediately, Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI,” Trump said in his address on Tuesday.
Stargate is being led by OpenAI and Softbank. OpenAI is overseeing its operations, while Softbank is managing the project's finances. Oracle and MGX are its initial equity funders, and SoftBank CEO Masayoshi Son will be its chairman. The funding partners will deploy $100 billion immediately, with the rest to flow in over the next four years.
The construction of Stargate’s first data center is already underway in Texas, with each center expected to be at least half a million square feet in size, Oracle co-founder and CTO Larry Ellison said after Trump made the initial announcement. 10 buildings are currently under construction, and more sites across the US are being evaluated for future development. The AI hardware will be built and operated by Oracle, NVIDIA, and OpenAI, with Arm and Microsoft joining them as “key initial technology partners.”
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