U.S. President-elect Donald Trump looks on as SoftBank CEO Masayoshi Son delivers remarks at Trump’s Mar-a-Lago resort on December 16, 2024 in Palm Beach, Florida.
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President Donald Trump will announce a joint venture Tuesday with OpenAI, Oracle and Softbank to invest billions of dollars in AI infrastructure in the United States, CNBC’s Eamon Javers and NBC News’ Peter Alexander report.
The project, dubbed Stargate, will be unveiled at the White House by Trump, Softbank CEO Masayoshi Son and executives from Oracle and OpenAI, according to sources familiar with the plan.
The companies are expected to commit to an initial $100 billion and up to $500 billion to the project over the next four years, according to CBS News, which first reported details of the expected announcement.
Stargate’s first joint venture will be a data center in Texas, CBS reported.
Softbank’s Son had already announced a four-year, $100-billion AI investment in the United States in December, when he visited then-President-elect Trump’s Mar-a-Lago resort.
It was not immediately clear if the anticipated investment being announced Tuesday would be in addition to Son’s prior pledge.
This is developing news. Please check back for updates.
— NBC News’ Peter Alexander contributed to this report
