Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

The initiative announced by President Donald Trump will aim to "secure American leadership in AI" while also creating jobs and economic benefit.

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of

Some of the biggest names in technology have clashed after President Donald Trump unveiled his $500 billion private AI investment project.

Altman took to X to dispute Musk's characterisation on Wednesday, calling it wrong and suggesting Musk was upset because the pact could rival the billionaire's own AI efforts

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

They don’t actually have the money,” Elon Musk wrote on his social media platform, exposing an early internal rift within the White House.

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

We may now know roughly how much money SoftBank and OpenAI are contributing toward Stargate, OpenAI's massive data center project.

Explore the pros and cons of the first round of technology developments from President Trump's first week in office. What impact will his bold tech moves have?

EconoTimes is a global, independent publication that delivers comprehensive news, analysis, and insights on the economy, finance, and markets. Based in Korea, we offer a unique perspective on global economic issues,