The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

President Trump and the CEOs of OpenAI, Softbank, and Oracle announced a new $500 billion AI initiative called "Stargate," CBS first reported. "Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI,

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

Elon Musk has cast doubt on if there is enough funding to follow through on a massive $500 billion artificial intelligence infrastructure project announced by Trump on Tuesday.

Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.