Former U.S. President Donald Trump has announced a $500 billion investment in the development of artificial intelligence (AI) infrastructure, following the revocation of former President Joe Biden’s AI-related executive orders.
This ambitious project is being led by Oracle, OpenAI, and SoftBank, with the aim of outpacing rival countries in the technology sector.
At a ceremony held at the White House, President Trump revealed that under a joint project named ‘Stargate’, the companies will build data centers across the U.S, which are expected to create over 100,000 jobs.
The initial phase will allocate $100 billion, with the remainder of the investment to be provided over the next four years.
Larry Ellison, Chairman of Oracle, shared that the first data center is under construction in Texas, with plans to build 20 more centers, each covering half a million square feet.
These centers will power AI systems that analyze electronic health records and assist doctors in patient care.
Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of OpenAI, and Larry Ellison praised President Trump’s leadership in the initiative.
Trump emphasized that the data centers would require significant energy resources and announced measures to streamline energy production for the centers.
However, U.S. energy experts have raised concerns about the increasing energy demands of AI data centers, potentially leading to power shortages in the coming decades.
Following the announcement, shares of Oracle rose by 7%, and stocks of other tech giants, such as Nvidia and Dell, also saw gains.
The project is viewed as part of Trump’s broader commitment to fulfilling his earlier promises of infrastructure development during his presidency, positioning the U.S. as a global leader in AI technology.
