SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together

The Trump Administration has announced an AI infrastructure joint venture in the U.S. named “Stargate,” comprised of OpenAI, SoftBank Group (OTC:SFTBF) (OTC:SFTBY), Oracle Corp (NYSE:ORCL), and Abu Dhabi’s MGX.

U.S. President Donald Trump announced Stargate, a $500 billion AI infrastructure project that's expected to provide 100,000 jobs and boost the American economy, but Elon Musk believes the three companies leading the project don't have the funds.

Larry Ellison unveiled plans for an AI-driven cancer vaccine system that could deliver personalized treatments within 48 hours.

US President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence (AI) led by Japan’s Softbank Group Corp, cloud giant Oracle Corp and ChatGPT-maker OpenAI.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

SoftBank, OpenAI, and Oracle are launching a $500 billion joint venture named Stargate to fund AI infrastructure in the U.S. The initiative, praised by President Trump, aims to deploy $100 billion immediately for projects like data centers and cancer research.

Last month, Trump announced with SoftBank's Son in Mar-a-Lago that SoftBank would invest $100 billion in US projects over the next four years, creating 100,000 jobs. Those investments will focus on infrastructure that supports AI, including data centers, energy generation, and chips, according to a source.

SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.

During a press conference on Tuesday afternoon, President Donald Trump floated the idea of Elon Musk or Larry Ellison purchasing TikTok, while also proposing that the U.S. government take a significant share of the transaction.