The project backed by Oracle, OpenAI, and SoftBank was announced by President Donald Trump Jan. 21, but it's not without its detractors.

SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

President Donald Trump on Tuesday talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a

Joint venture Stargate will be building out data centers and beefing up electricity generation to support the fast-evolving artificial intelligence scene.

The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.

SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.

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.

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.

Trump announced Tuesday that OpenAI, Softbank and Oracle would join forces to create Stargate, a new company investing $500 billion in AI infrastructure.

On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."