SoftBank shares surged — on five times the previous day’s volume — on Wednesday after the Japanese investment group landed a starring role in an U.S. artificial intelligence infrastructure buildout package backed by President Donald Trump.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank.
The president said it will be the largest AI infrastructure ever built and that it will help counter technology threats from China and other countries.
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.
OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Chairman of Oracle appeared is set to appear at the White House Tuesday afternoon alongside President Donald Trump and other tech CEOs to announce a massive private sector investment in artificial intelligence infrastructure in the United States.
Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.
Trump was joined by Oracle founder Larry Ellison, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son, who said the investment would start with $100 billion, plus a goal of $500 billion over the course of four years.
SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.
SoftBank, OpenAI, and Oracle are launching a $100 billion joint venture to enhance AI infrastructure, with plans to escalate investment to $500 billion. The initiative, supported by President Donald Trump,
President Trump along with OpenAI, SoftBank, and Oracle announces 'largest AI infrastructure project in history' with $500 billion pumped into Stargate.