This is a joint venture between American Open AI and Oracle, as well as Japanese Softbank, under the name Stargate.
Stargate will begin building data centers and the electricity production needed to develop AI technology, initially in the state of Texas.
The initial investment in the project amounts to 100 billion dollars, but can eventually reach 500 billion dollars, equivalent to approximately 5,500 billion Swedish kronor.
Trump calls the investment the "overwhelmingly largest AI infrastructure project in history."
This will be the most important project for this era, says Sam Altman, CEO of Open AI, who attended the press conference with Trump.
The project is already underway and data centers are being built, according to Oracle's co-founder Larry Ellison. The tech site The Information first reported on the project in March 2024.
Softbank is said to have the financial responsibility over Stargate, while Open AI is responsible for the operational, according to a statement from Open AI, which is behind the tool Chat GPT.
"As part of Stargate, Oracle, Nvidia, and Open AI will closely collaborate to build and operate this data system," the statement reads.
Microsoft and British chip manufacturer Arm are also important partners in Stargate, which has Softbank's CEO Masayoshi Son as chairman of the board.
