SoftBank, Oracle, MGX form Stargate Project with ChatGPT maker, intend to outspend Microsoft this year Updated OpenAI, Oracle, SoftBank, and investment firm MGX on Tuesday announced plans to spend as much as $500 billion on AI infrastructure in America over the next four years,

OpenAI announced a new joint venture named The Stargate Project which aims to build a number of data centers for AI in the U.S.

Shares of Nvidia, Microsoft, Oracle, and other AI-related companies surged Wednesday after the Trump administration’s announcement of a $500 billion joint venture spurred optimism about a rising tide of AI investments.

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.

OpenAI's Stargate Project, a $500 billion AI initiative with partners like Nvidia and Oracle, aims to build advanced data centres.

The dependency dance between AI pioneer OpenAI and the Microsoft Azure cloud and the application software divisions of its parent company are fascinating

OpenAI, Oracle, Softbank and MGX are investing a record amount in new AI infrastructure even as China's DeepSeek outperforms on cost.

OpenAI stated that The Stargate Project is a new company that will invest $500 billion to build AI infrastructure in the US.

WHEN SAM ALTMAN, boss of OpenAI, posted a gnomic tweet this month saying “There is no wall,” his followers on X, a social-media site, had a blast. “Trump will build it,” said one. “No paywall for ChatGPT?” quipped another. It has since morphed from an in-joke among nerds into a serious business matter.

Nvidia gained ground today following the announcement of Stargate -- a new joint company formed by OpenAI, Oracle, and Softbank. The three partners have announced they will soon be investing $100 billion in U.S. AI infrastructure -- and the development bodes well for Nvidia.