US Logs In $500-Bn AI Project

Washington:US President Donald Trump announced a $500 billion investment in AI infrastructure through a new company, which is being created in partnership with Oracle, SoftBank and Open AI.

The venture, called Stargate, adds to tech companies’ significant investments in US data centres, huge buildings full of servers that provide computing power. The three companies plan to contribute funds to the venture, which will be open to other investors and start with 10 data centres already under construction in Texas.

“That’s a massive group of talent and money. Together, these world-leading technology giants are announcing the formation of Stargate,” Trump announced on Tuesday at a White House news conference along with Oracle Chief Technology Officer Larry Ellison, Softbank CEO Masayoshi Son and Open AI CEO Sam Altman.