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.

President Donald Trump is supporting the newly formed Stargate to advance AI as construction on the company's first data center gets underway in Abilene. Trump announced the new entity formed by OpenAI,

Donald Trump held the first press conference of his new presidential term on Tuesday, along with three billionaires who are starting a new partnership called Stargate that they claim will create wonderful new innovations in artificial intelligence.