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President Donald Trump recently spearheaded an event that has sparked considerable interest in the tech and healthcare sectors. The former president convened with prominent figures including OpenAI CEO Sam Altman, Oracle chairman Larry Ellison, and Masayoshi Son, the CEO of SoftBank, to unveil ‘Stargate,’ a new initiative promising a $500 billion investment in AI infrastructure within the United States.
While details remain somewhat sparse, Trump has been lauded by the assembled executives for his role in facilitating the deal. Trump has indicated his involvement is that he will use emergency declarations to support the effort.
Financing for the venture also presents some ambiguity. The Information reported that OpenAI and SoftBank will together contribute $19 billion to the initiative, while Oracle and MGX — a UAE investment firm specializing in AI — will collectively provide $7 billion. The remaining funds are expected to come from debt and future investors.
