Trump: OpenAI forms new company Stargate, invests $500 billion

Today, the three co-founders and CEOs of OpenAI, SoftBank, and Oracle, Sam Altman, Masayoshi Son, and Larry Ellison, attended a live press conference hosted by Trump. Trump announced that SoftBank, OpenAI, and Oracle jointly established a new AI company, Stargate, which will invest $500 billion in the next four years. $100 billion will be invested immediately to build AI infrastructure.
Stargate's initial equity investors include SoftBank, OpenAI, Oracle and MGX. SoftBank and OpenAI are Stargate's main partners, with SoftBank in charge of finance, OpenAI in charge of operations and Masayoshi Son as chairperson. Arm, Microsoft, NVIDIA, Oracle and OpenAI are key initial technology partners for the project.