Trump unveils $500bn joint AI venture between OpenAI, Oracle and SoftBank | Donald Trump

Donald Trump has unveiled what he called “the largest AI infrastructure project in history” – a $500bn joint venture between OpenAI, Oracle and SoftBank that aims to build a network of data centres across the US.

The new partnership, dubbed Stargate, aims to construct essential data centers and computing infrastructure needed to power artificial intelligence development and, according to Trump, create over 100,000 American jobs “almost immediately”.

The launch marks one of Trump’s first major business initiatives since returning to office and comes as the US looks for new ways to maintain an edge against China in AI capabilities.

“China is a competitor and others are competitors. We want it to be in this country,” Trump said during the White House announcement, flanked by Oracle’s Larry Ellison, SoftBank’s Masayoshi Son and OpenAI’s Sam Altman.

The president indicated he would use emergency declarations to expedite the project’s development, particularly regarding energy infrastructure.

“We have to get this stuff built,” Trump said. “They have to produce a lot of electricity and we’ll make it possible for them to get that production done very easily at their own plants.”

The initiative comes just one day after Trump reversed predecessor Joe Biden’s more than 100-page executive order on AI safety standards and content watermarking, signalling a decisive shift in US artificial intelligence policy.

And while the investment is substantial, it aligns with broader market projections – financial firm Blackstone had already estimated $1tn in US data centre investments over five years.

Trump framed the announcement as a vote of confidence in his administration, noting that the timing coincided with his return to office. “This monumental undertaking is a resounding declaration of confidence in America’s potential under a new president,” he said.

The formation of Stargate follows Trump’s earlier announcement of a $20bn AI data centre investment from UAE-based DAMAC Properties. Sites for the new data centres are currently being evaluated across the country, though the venture will begin with initial projects in Texas.