Stargate Joint Venture: $100 Billion AI Data Center Initiative Launches
Brief news summary
A new joint venture, Stargate, is emerging with major tech giants OpenAI, SoftBank, and Oracle at the helm, collectively investing an initial $100 billion to create robust data centers. This investment could rise to $500 billion over the next four years, inviting additional investors to participate. The first data center will be situated in Texas, with an expected creation of about 100,000 jobs. Recently, former President Trump emphasized the significance of U.S.-developed AI in the global competition against China and attended a meeting in the White House's Roosevelt Room with leaders from the involved companies, including OpenAI CEO Sam Altman, SoftBank's Masayoshi Son, and Oracle's Larry Ellison. Although the project was conceived before Trump’s presidency, his endorsement is considered crucial for such an ambitious plan, which aims to construct 20 facilities. Construction of the inaugural center is already underway, covering roughly 92,900 square meters (about 1 million square feet).The joint venture, known as Stargate, will involve technology firms OpenAI, SoftBank, and Oracle pooling a total of US$100 billion at the outset to establish data centers—large facilities filled with servers that provide computing power. According to the announcement, this funding could increase to US$500 billion over the next four years.
The three companies will also open up investment opportunities to other investors, with the inaugural data center set to launch in Texas, and the initiative is expected to create 100, 000 jobs. During a press event in the White House Roosevelt Room, Trump—who vowed to prioritize domestically produced AI to compete with China for global supremacy—was joined by OpenAI's CEO Sam Altman, SoftBank's Masayoshi Son, and Oracle's Larry Ellison. All three executives mentioned that the ambitious 20-building project would not have materialized without Trump’s involvement, despite its conception occurring before his presidency and the construction of the initial 92, 900 square meter [1 million square feet] facility already in progress.
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Stargate Joint Venture: $100 Billion AI Data Center Initiative Launches
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