OpenAI and SoftBank Each Commit $19 Billion for 40% Stake in Stargate AI Data Center Venture

Jan 23, 2025, 01:43 AM

OpenAI and SoftBank are each committing $19 billion to fund Stargate, a joint venture aimed at developing AI data centers in the U.S. The initiative, known as the Stargate Project, will be structured like a venture fund, with the potential for the debt it raises to trade publicly. Sam Altman, CEO of OpenAI, has informed some colleagues about the commitment. OpenAI is expected to hold a 40% interest in the venture, with SoftBank also taking a 40% stake. The funding will come from a mix of equity and several types of debt financing.