The $500 billion Stargate project is projected to create hundreds of thousands of jobs. Here's what's known so far.

A new company called Stargate, which combines some of the largest names in the artificial intelligence industry, was announced by President Donald Trump.

The venture involves OpenAI, Softbank, and Oracle, and starts with an investment of $100 billion. On the second day of his second presidency, Donald Trump announced the creation of a joint venture with OpenAI,

One further force promoting AI innovation could be defence spending. America puts only a tiny fraction of its $850bn defence budget into AI. Silicon Valley executives hope that the Trump administration will allow more participation by startups building AI weapons and systems in the competition for defence contracts.

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

President Trump hosted executives from Softbank, OpenAI and Oracle at the White House Tuesday to announce “Stargate,” a $500BN private-sector plan to build new AI data centers.

Elon Musk, the close Trump adviser who has his own AI company and was notably not at the press conference, erupted Wednesday with a relentless stream of online mockery. “They don’t actually have the money,