Newly elected U.S. President Donald Trump has announced the decision to invest a massive $500 billion in Artificial Intelligence (AI) through “Stargate,” a new company to be formed in partnership with OpenAI, SoftBank, and Oracle.

Each company plans to invest $100 billion to start with, and the remaining funding will be poured into the company in the coming years. Trump said, the investment will create around 100,000 jobs.

According to Trump, Stargate will develop the physical and virtual infrastructure needed to support the next generation of AI, including constructing data centers across the country.

“This monumental undertaking is a strong vote of confidence in America’s future and leadership under this administration. This project ensures that the United States will remain the global leader in AI and technology, rather than letting competitors like China gain the edge,” Trump said.

Meanwhile, Ellison stressed that the project wouldn’t have been possible without Trump. He further revealed a data center is already being built in Texas.

“There are 10 buildings currently being built, but that will expand to 20, and other locations beyond the Abilene location, which is our first location,” Ellison said in the press briefing with Trump.

Commenting on the same, Altman said Stargate will be the “most important project” of this era. “I’m thrilled we get to do this in the United States of America. I think this will be the most important project of this era and as said, for Artificial General Intelligence (AGI) to get built here to create hundreds of thousands of jobs, to create a new industry centered here,” he said in the press briefing.

Similarly, Son referred to the project as the beginning of a new “golden age.” “I think AGI is coming very, very soon and… that’s not the goal. After that, artificial super intelligence will come to solve the issues that mankind never ever thought that we could solve,” he added.

Recently, just on his first day in office in his second stint at the President, Trump scrapped a 2023 executive order issued by former President Joe Biden, which aimed to mitigate the risks AI poses to consumers, workers, and national security. 

Biden’s order mandated that developers of AI systems share the results of safety tests with the U.S. government, under the Defense Production Act, prior to public release.

The scrapping is part of the incoming Donald Trump administration’s broader agenda to reduce regulatory burdens on businesses and promote innovation.