OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.

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.

Joint venture Stargate will be building out data centers and beefing up electricity generation to support the fast-evolving artificial intelligence scene.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

Trump lauded the up to $500 billion partnership with OpenAI, Oracle, and SoftBank to build out data centers and electricity generation in Texas for AI.

The Stargate Project will focus on building data centres dedicated exclusively to OpenAI as the company continues to expand its generative AI computing capabilities

Elon Musk criticises OpenAI and SoftBank's $500 billion Stargate Project for AI infrastructure, doubting their financial capabilities. The initiative involves major tech companies like Oracle, MGX, Arm,

Yes, that's the name of a 1994 Roland Emmerich movie. It's now a big infrastructure project to help power tech giants' foray into AI.

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,

The US president says Stargate will build the physical and virtual infrastructure to power the next generation of advancements in AI.

US President Donald Trump announced billions of dollars in AI investments, collaborating with major tech companies, which led to a surge in their share prices. However, energy prices continued to decline due to concerns about increasing US production.