Besides their investments in US data centers tech companies put more money into Stargate.
US President Donald Trump and his partners Oracle SoftBank and Open AI plan to invest USD 500 billion into AI infrastructure through their new business venture.
The funding for Stargate joins other tech company investments in US data centers which are large buildings full of servers that deliver computing power.
The three companies will put money into this project and future investors may join while it starts operations with ten data centers under construction in Texas.
These three companies represent a huge workforce and financial backing. During Tuesday’s White House news conference Trump introduced Stargate alongside Oracle Chief Technology Officer Larry Ellison, Softbank CEO Masayoshi Son and Open AI CEO Sam Altman.
Trump believes you will hear about this new U.S. company because it will create over 100,000 American jobs and invest at least USD 500 billion in AI infrastructure.
He expresses strong faith in America’s future under this new president.
“It will ensure the future of technology. Our goal remains to keep AI advancement here in the United States. He stated that China acts as a rival nation and other countries also compete against us.
Stargate starts now to build physical and digital infrastructure for AI progress according to Trump.
According to Trump his company plans to build massive data centers across several chosen locations throughout the United States.
“They’re making their choices of locations. I think they have their choice. Please let Larry, Sam and Masa share their work updates before we move on to other subjects. For me this represents a major investment of USD 500 billion through the Stargate project.
Trump’s presence made this project possible according to Ellison.
“It would simply be impossible. The power of artificial intelligence benefits every person in America. Our team has collaborated with Open AI and Masa for an extended period now. Construction on our data centers has already started according to him.
Work on our first data centers now takes place in Texas. The buildings measure 500000 square feet each. Our construction efforts now include 10 buildings but will grow to 20 and extend to other places starting from our Abilene site.
Doctors can analyze patient medical data from electronic health records to create better healthcare plans through our system. The doctor in Indian River reservation can now observe how doctors at Memorial Sloan Kettering and Stanford treat their patients through this system.
We have just entered the start of the best period in human history. We wouldn’t have decided unless you won. SoftBank will activate its USD100 billion investment program beginning today to reach US500 billion in four years according to SoftBank CEO.
According to Altman this project stands out as the main initiative of our time.
Our team can achieve everything these speakers talked about.
He regarded it as a special privilege to conduct this project in the United States.
On his first day as president Trump announced he had secured investments worth almost USD 3 trillion for the United States and expected USD 6 trillion to USD 7 trillion by week’s end.
Many different businesses now receive large amounts of money beyond artificial intelligence programs alone. He said AI has strong market interest.
