Trump announced the establishment of a $500 billion company focused on AI infrastructure development.

On the evening of Tuesday, January 21, United States President Donald Trump announced the formation of a new company dedicated to the development of artificial intelligence. It will consist of three major players: American developer OpenAI, Japanese conglomerate SoftBank, and American software company Oracle.

The project has been named Stargate. Its budget will amount to $500 billion. The aim of the project is to create both physical and virtual infrastructure for the advancement of next-generation artificial intelligence. Specifically, the company plans to build data centers across the country.

“Stargate will immediately begin to create physical and virtual infrastructure to support the next generation of achievements in the field of artificial intelligence. This will include the construction of massive data centers,” Trump stated.

Each of the three companies will contribute an initial investment of $100 billion. In the following years, the total investment in the project is expected to reach $500 billion.

“This grand project is a compelling testament to the belief in America’s potential under the leadership of the new president,” Trump said.

According to the president, the project will create over 100,000 jobs in the U.S.

At the event held in the White House, leaders from all three companies were present.

Oracle CEO Larry Ellison reported that the construction of the first data centers has already begun in Texas. Future construction will be expanded to other states.

OpenAI CEO Sam Altman called Stargate “the most important project of our time.” SoftBank's CEO Masayoshi Son referred to the project launch as “the beginning of a golden age for America.”

“We wouldn’t have made this decision if you hadn’t won,” he told Trump. “This will help solve many complex problems that we otherwise wouldn’t be able to tackle.”

All three company leaders emphasized that artificial intelligence has the potential to significantly improve the healthcare sector. Other investors are expected to join the initiative, although their names have not yet been disclosed.