Trump announces $500 billion ‘Stargate’ AI venture headed by Oracle, OpenAI, SoftBank

President Donald Trump on Tuesday announced a new $500 billion, private sector investment to build artificial intelligence infrastructure in the US, with Oracle (ORCL), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank (9984.T) among those committing to the joint venture.

The joint venture, called Stargate, is expected to begin with a data center project in Texas, according to CBS News, which first reported the news. Company execs were expected to commit to an initial investment…