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 Trump and the CEOs of OpenAI, Softbank, and Oracle announced a new $500 billion AI initiative called "Stargate," CBS first reported. "Stargate will be building the physical and virtual infrastructure to power the next generation of advancements in AI,

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.