Trump’s Stargate AI project backed by OpenAI, Oracle, and SoftBank is taking shape: Here’s what we know

One of the Trump White House’s first big announcements aligned itself with the artificial intelligence boom.

In a splashy announcement on his second day in office, President Trump told Americans that a new $500 billion project — backed by SoftBank (SFTBY), Oracle (ORCL), and OpenAI — would generate “ over 100,000 American jobs almost immediately.”

The project created a company called Stargate, which said in Tuesday’s announcement it would “begin deploying $100 billion…