The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

The project, which will be financially led by SoftBank and operationally by OpenAI, will see an immediate investment of $100 billion. Masayoshi Son will be the chairman of the company.

President Trump is reportedly planning to announce major AI infrastructure investments, signaling a willingness to work alongside large technology companies.

The joint venture or alliance, called Stargate, "will invest $500 billion, at least, in AI infrastructure in the United States," Trump said.

Donald Trump announces tech companies will invest up to $500 billion to fund artificial intelligence infrastructure

President Trump and the CEOs of OpenAI, Softbank, and Oracle are expected to announce a new $500 billion AI initiative called "Stargate," CBS first reported. Sources tell CBS that the plan is to start with a $100 billion commitment and a Stargate data center in Texas,