The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

Several large technology firms including OpenAI, SoftBank, Oracle, Nvidia, and MGX have partnered to set up a new company in the US to ramp up AI infrastructure in the country. Named Project Stargate,

The goal is to kickstart building more datacenters to expand computing capacity for current and future AI projects, including OpenAI's goal of "AGI," which the company defines as a highly autonomous AI system that "outperforms humans at most economically valuable work.