The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

President Trump and the CEOs of OpenAI, Softbank, and Oracle are expected to announce a new $500 billion AI initiative called "Stargate," CBS first reported. Sources tell CBS that the plan is to start with a $100 billion commitment and a Stargate data center in Texas,

President Trump is reportedly planning to announce major AI infrastructure investments, signaling a willingness to work alongside large technology companies.

The billionaire wrote on social media that the companies behind the project don’t have enough money to follow through on their pledges.

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

Tech billionaire Elon Musk voiced doubts about President Trump’s newly announced infrastructure plan for artificial intelligence, claiming that the technology companies behind the effort do