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."

Nvidia stock was rising alongside rival chip makers on the first trading day of Trump’s second presidency. In his first hours back in the Oval Office, the president revoked an order on artificial intelligence signed by his predecessor Joe Biden,

President Trump is reportedly planning to announce major AI infrastructure investments, signaling a willingness to work alongside large technology companies.

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

Trump said the private sector joint venture will build data centers and create more than 100,000 jobs in the United States.