President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

By Sam Nussey and Anton Bridge TOKYO (Reuters) -SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.

The initiative announced by President Donald Trump will aim to "secure American leadership in AI" while also creating jobs and economic benefit.

President Donald Trump gives remarks in the Roosevelt Room where he announced a new AI initiative at the White House in Washington D.C., on Tuesday, January 21, 2025, as Softbank CEO Masayoshi Son, Oracle CEO Larry Ellison, and OpenAI CEO Sam Altman look on. | Aaron Schwartz/Sipa USA

OpenAI, Oracle and SoftBank formed a new joint venture called Stargate to invest in data centers, building on major U.S. investments in the technology.

Trump said the private sector joint venture will build data centers and create more than 100,000 jobs in the United States.

WASHINGTON — President Trump unveiled a $500 billion artificial intelligence infrastructure project Tuesday at the White House alongside reps from three tech and investment giants — with those business leaders asserting the initiative could cure cancer.

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday, citing OpenAI CEO Sam Altman speaking to colleagues.

Some of the biggest names in technology have clashed after President Donald Trump unveiled his $500 billion private AI investment project.

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

Oracle founder Larry Ellison said the Stargate project, a joint venture with OpenAI and Softbank, will help to fuel the development of a cancer vaccine.

In addition to Trump, you can guarantee that virtually every tech company will mention AI revenue and spending. According to Jefferies analyst Brent Thill, Microsoft should report improved AI consumption and continued spending, something investors have been hoping for as the company works to meet customer demand for AI infrastructure.