OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

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.

Trump announced Tuesday that OpenAI, Softbank and Oracle would join forces to create Stargate, a new company investing $500 billion in AI infrastructure.

Shares of AI-related tech companies are trading higher Wednesday after U.S. President Donald Trump announced a $500 billion AI infrastructure investment called Project Stargate.

President Donald Trump said Tuesday he is open to Elon Musk buying TikTok, and floated a proposal that the United States jointly own half the company. “I would be, if he wanted to buy it, yes,” Trump told reporters at a White House event announcing a new AI infrastructure private sector partnership with tech leaders,

On Tuesday night, President Donald Trump issued a pardon to Ross Ulbricht, who ran the dark web marketplace Silk Road under the pseudonym “Dread Pirate Roberts.” Ulbricht has been serving a life sentence without parole since 2015, when he was convicted of multiple charges, including the distribution of narcotics.

On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

The effort was described as a $500 billion investment in artificial intelligence. Read how a small Texas city with a population of about 130,000 fits into the plans.

The President said he would be open to the US billionaires purchasing social video app TikTok as part of a joint venture with the US government.

President Donald Trump said he is in favor of Elon Musk or Larry Ellison buying TikTok as he offered his latest thinking on what a deal might look like to save the US operations of the social media platform.