President Donald Trump is set to announce a major private sector investment aimed at boosting artificial intelligence (AI) infrastructure in the United States, CBS News has learned.
The initiative, called Stargate, is a joint venture involving OpenAI, SoftBank and Oracle, with plans to commit $100 billion initially and up to $500 billion over the next four years.
OpenAI CEO Sam Altman is also the founder of another artificial intelligence and cryptocurrency project, Worldcoin (WLD).
SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle co-founder Larry Ellison are expected to join Trump at the White House for the announcement later today.
The Stargate project will begin with the construction of a state-of-the-art data center in Texas, with plans to expand to other states in the future. Additional investors are expected to join the venture, but their identities have not yet been disclosed.
The partnership underscores a major private sector push to strengthen U.S. technological leadership. Stargate is designed to lay the groundwork for cutting-edge AI applications and services, with infrastructure tailored to meet the growing demand for high-performance computing power, according to people familiar with the project.
The initiative has received support from NetChoice, a trade organization representing major tech companies including Amazon, Google and Meta. The group praised Trump’s rollback of Biden-era regulations on energy production and AI governance, calling the moves “critical” to ensuring the U.S. leads in AI innovation. “Reducing regulatory barriers is essential to fostering an environment where technological advances can thrive,” NetChoice said in a statement.
*This is not investment advice.
