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.

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.

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

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

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.

President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.

Yes, that's the name of a 1994 Roland Emmerich movie. It's now a big infrastructure project to help power tech giants' foray into AI.

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

While SoftBank will be financially responsible, OpenAI will be operationally responsible for building AI infrastructure in the US.

A plan to build a system of data centers for artificial intelligence has been revealed in a White House press conference, with Masayoshi Son, Sam Altman, and Larry Ellison joining Donald Trump to announce The Stargate Project.

In a blog post announcing the launch, the AI giant confirmed it had signed a deal with SoftBank (lead partner), Oracle (initial equity funder) and MGX (initial equity funder) to provide $500 billion in funding over the course of four years.