US technology leaders partner to invest up to USD500B in AI
(MENAFN) US technology leaders OpenAI, Oracle and SoftBank are partnering to set up a project that will invest as much as USD500 billion in artificial intelligence (AI) industry in the US, OpenAI stated on Wednesday.
Chatgpt creator OpenAI stated in a post on social media platform X that they will start investing USD100 billion instantly in the venture referred to as Stargate, mentioning that "this infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world."
It further mentioned, "this project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies."
OpenAI revealed its plans following US President Donald Trump's support for the project on Tuesday, the initial full day of his return to the White House.
"These world-leading technology giants are announcing the formation of Stargate … a new American company that will (create) over 100,000 American jobs," Trump stated in the White House, joined by SoftBank CEO Masayoshi Son, Oracle Chairman Larry Ellison, and OpenAI CEO Sam Altman.
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