· 2h · on MSN
SoftBank Joins OpenAI, Oracle in AI Pact Unveiled by Trump
OpenAI teams up with SoftBank and Oracle on $500B data center project
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
SoftBank Shares Jump After Unveiling $500 Billion Venture With OpenAI
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.
Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.
Joint venture Stargate will be building out data centers and beefing up electricity generation to support the fast-evolving artificial intelligence scene.
President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.
At the core of this initiative is the formation of a new company, The Stargate Project, a joint venture between OpenAI, SoftBank, Oracle, and MGX. Over the next four years, this project will invest an astonishing $500 billion to develop cutting-edge AI infrastructure in the U.S., aiming to secure the country’s leadership in artificial intelligence.
AUSTIN, Texas — It is what President Donald Trump calls the " largest AI infrastructure project " in history, which will create more than 100,000 jobs. The leaders of Softbank, Open AI and Oracle are coming together to announce the formation of Stargate.
A plan to build a system of data centers for artificial intelligence has been revealed in a White House press conference, with Masayoshi Son, Sam Altman, and Larry Ellison joining Donald Trump to announce The Stargate Project.
SoftBank and OpenAI are backing a significant AI infrastructure project in the US, which includes major investments, new technology partnerships, and job creation.
While SoftBank will be financially responsible, OpenAI will be operationally responsible for building AI infrastructure in the US.
Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.
Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.
OpenAI, SoftBank and Oracle will form a joint venture called Stargate to fund energy and infrastructure projects to help meet skyrocketing demand from AI.
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