President Trump hosted executives from Softbank, OpenAI and Oracle at the White House Tuesday to announce “Stargate,” a $500BN private-sector plan to build new AI data centers.

The executive order directs the Department of Defense and the Department of Energy to lease federal sites to companies building AI infrastructure.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank.

Son has appeared with Trump twice since the November presidential election, last month pledging to invest $100 billion in the U.S. and this week partnering with OpenAI and Oracle on a $500 billion AI infrastructure venture called Stargate.

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