Stargate — the joint venture between OpenAI, Softbank and Oracle — is starting its AI infrastructure plans with 10 data centers in Texas.

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.

Chairman Larry Ellison — joined President Donald Trump on Tuesday afternoon at the White House to announce the creation of a new company called Stargate.Texas-based Stargate would invest up to $500 billion over the next four years in AI infrastructure.

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

The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.

The effort was described as a $500 billion investment in artificial intelligence. Read how a small Texas city with a population of about 130,000 fits into the plans.

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."

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday, citing OpenAI CEO Sam Altman speaking to colleagues.

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.

Both the Stargate announcement and the revocation of the AI safeguard Biden had put in place sparked widespread criticism from privacy and security experts.