President Trump announces $500 billion AI infrastructure Stargate

A day after joining the oval office, President Donald Trump announced a whopping $500 billion AI infrastructure project put forth by top tech behemoths- Open AI, Oracle Corporation, and Softbank.

The three entities have come together to create a new company, called Stargate, to grow artificial intelligence infrastructure in the United States. The companies will invest $100 billion in the project to start, with plans to pour up to $500 billion into Stargate in the coming years. The project is expected to create 100,000 US jobs, President Trump said.

Stargate will build “the physical and virtual infrastructure to power the next generation of AI, including data centers around the country", President Trump said.

AI leaders have for months been sounding the alarm that more data centers — as well as the chips and electricity and water resources to run them — are needed to power their artificial intelligence ambitions in the coming years.

Oracle said in a statement that the Stargate project “will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world. This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies.”

SoftBank will have financial responsibility for Stargate and OpenAI will have operational responsibility. A fourth partner, MGX, is also contributing funding. SoftBank and OpenAI are the lead partners, with SoftBank having financial responsibility and Open AI have operational responsibility. MGX, a technology fund is the fourth investor and Open AI, NVidia, Oracle Corp. and Microsoft will be technology partners.

Industry observers feel, AI advancement is the need of the hour however It remains to be seen how the proposed ambitious project will pan out.