President Trump and the CEOs of OpenAI, Softbank, and Oracle are expected to announce a new $500 billion AI initiative called “Stargate,” CBS first reported.
Sources tell CBS that the plan is to start with a $100 billion commitment and a Stargate data center in Texas, and then build up to $500 billion over the next four years while expanding data centers to other states.
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OpenAI’s Sam Altman, Oracle CTO Larry Ellison, and SoftBank CEO Masayoshi Son are expected at the White House Tuesday afternoon to make the announcement.
Oracle is one of the biggest data center operators in the U.S., per CNN.
Sam Altman has been vocal about the need to build more AI infrastructure and data centers in America.
“Infrastructure in the United States is super important, AI is a little bit different from other kinds of software in that it requires massive amounts of infrastructure, power, computer chips, data centers,” Altman explained in an interview last month with Fox News Sunday. “We need to build that here and we need to be able to have the best AI infrastructure in the world to be able to lead with the technology and the capabilities.”
This is a developing story and will be updated.
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