Trump Announces Stargate: Texas-Based Investment Links AI Heavyweights Oracle, OpenAI [Video]

Three major business leaders—SoftBank Group CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle Corp. Chairman Larry Ellison—joined President Donald Trump on Tuesday afternoon at the White House to announce the creation of a new company called Stargate.

“Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI,” Trump said. “The Stargate project, I think it’s going to be something that’s very special. It could lead to something that’s the biggest of all.”

Why It Matters

Trump has touted such announcements to show his presidency is boosting the economy and there were high expectations for a significant expansion of data centers and power plants essential for AI development.

AI has the potential to enhance productivity by automating tasks but also poses the risk of job displacement if not implemented carefully.