Press releases or financial disclosures from the Stargate Project

Trump Unveils $500 Billion Stargate AI Project; Elon Musk Questions Funding

Jan 23, 2025, 09:30 AM

President Donald Trump has announced the Stargate Project, a new initiative valued at up to $500 billion to invest in artificial intelligence infrastructure, aiming to maintain US leadership in AI. The project involves building the physical and virtual infrastructure required for the next generation of AI advancements, including the construction of colossal data centers. Major technology companies are involved, with OpenAI and SoftBank as lead partners, alongside Oracle and MGX. Elon Musk, CEO of Tesla and SpaceX, expressed skepticism about the project's financial backing, questioning whether the companies involved, particularly OpenAI, SoftBank, and Oracle, have sufficient funds to fulfill their commitments. Musk's remarks have intensified his ongoing rivalry with OpenAI CEO Sam Altman, who defended the project. Musk acknowledged that Microsoft CEO Satya Nadella "does have the money," as Microsoft announced it will continue its strategic partnership with OpenAI and collaborate on Stargate. The announcement has sparked debates among tech leaders, with some comparing the project to a modern-day Manhattan Project for AI. The Stargate Project highlights the increasing emphasis on AI development and infrastructure in the United States and the complexities of partnerships among tech giants.