onald Trump, the President of the U.S. announced on Tuesday an investment in the private sector that can reach up to $500 billion in funding the infrastructure
of artificial intelligence, with the purpose of outpacing rival nations in the field of business-critical technology.
Even more so, the President said that Open AI, SoftBank, and Oracle are working together to create a venture called Stargate, which he said will create data centers and create more than 100,000 jobs in the U.S.
The companies mentioned above, along with others, have already committed $100 billion for immediate deployment. The remaining part of the investment is expected to take place over the next years.
Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of Open AI, Larry Ellison, chairman of Oracle, and President Donald Trump gathered at the White House for lunch to discuss the measures and details.
It’s also worth mentioning the affirmation made by Ellison in a press conference, referring to the fact that the first of the project’s data centers is already under construction in Texas. And this is not all as twenty more will be built, marking half a million square feet each. Ellison also added that those actions can power AI to analyze electronic health records and even help doctors take better care of their patients.
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Son told Trump “We wouldn't have decided to do this,” also adding “unless you won.". Sam Altman also added “For AGI to get built her” and “We wouldn't be able to do this without you, Mr. President.".
In March, last year, the tech news website The Information, reported that OpenAI and Microsoft have been working on planning the organization of a $100 billion data center project that would include an artificial intelligence supercomputer also known under the name of “Stargate” that is allegedly being launched in 2028.
This decision follows the rolling back of former President Joe Biden’s executive order regarding the reduction of AI risks due to theri enormous computing power required.
Trump said “They have to produce a lot of electricity, and we'll make it possible for them to get that production done very easily at their own plants if they want," reported Reuters.
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