President Donald Trump plans $500 billion in AI infrastructure with OpenAI, SoftBank and Oracle
- President Donald Trump announced a “Stargate” project for $500 billion in investment to advance the US AI infrastructure.
- The project will deploy an initial investment of $100 billion, scaling up to $500 billion, to establish advanced data centers and infrastructure in Texas.
- Key partnerships include OpenAI, Oracle, and SoftBank, combining expertise to accelerate innovation and economic growth in the region.
- This announcement led to a rise of 7.3% in the market capitalization of the AI sector in crypto, reaching $45.1 billion in the last 24 hours.
US President Donald Trump announced a “Stargate” project for $500 billion in investment to advance the US AI (Artificial Intelligence) infrastructure on Tuesday. This project will deploy $100 billion immediately and increase to $500 billion, aiming to build data centers and more in the US state of Texas by partnering with OpenAI, Oracle, and SoftBank. This announcement led to a rise of 7.3% in the market capitalization of the AI sector in crypto, reaching $45.1 billion in the last 24 hours.
Trump’s administration backs the AI narrative
The 47th President of the US, Donald Trump, announced the “Stargate” project for $500 billion in investment to advance the US AI (Artificial Intelligence) infrastructure on Tuesday.
“We’re starting off with tremendous investment coming into our country at levels that nobody’s really ever seen before,” Trump said at the White House on Tuesday.
Big people joined the President: SoftBank’s Masayoshi Son, OpenAI’s Sam Altman and Oracle’s Larry Ellison. This project will deploy $100 billion immediately and increase to $500 billion, aiming to build data centers and more in the US state of Texas by partnering with OpenAI, Oracle, and SoftBank to speed the development of the emerging technology.
President Trump announced a new joint venture by OpenAI, SoftBank and Oracle that will invest $500 billion in AI infrastructure https://t.co/y2UzvNb5oj pic.twitter.com/3mS9y8LQLE
— Bloomberg (@business) January 21, 2025
Following this announcement, the stock price of SoftBank jumped 9.7% in Tokyo on Wednesday, its biggest intraday rise since August. The AI sector in crypto also followed suit and rallied 7.3% in the market capitalization, reaching $45.1 billion in the last 24 hours, according to CoinGecko.
AI coins chart. Source: CoinGecko
Author
Manish Chhetri
FXStreet
Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.
