19 Billion Each: OpenAI and SoftBank to Fund Stargate AI Data Centers

OpenAI and SoftBank have agreed to jointly invest $19 billion each in Stargate, a new venture aimed at developing AI data centers in the U.S., according to a report from The Information. 

OpenAI will hold a 40% stake in Stargate, effectively expanding its operations, with SoftBank also expected to hold a 40% interest. The companies did not immediately comment on the matter.

Earlier this week, U.S. President Donald Trump announced that OpenAI, SoftBank, and Oracle would launch Stargate and invest a total of $500 billion over the next four years, aiming to strengthen the U.S. position in the global AI competition, particularly with China.

Initially, Stargate will deploy $100 billion, with the remaining funding to follow over the next four years. The project is being spearheaded by SoftBank and OpenAI.

 

 

 

 

Paraphrasing text from "Reuters" all rights reserved by the original author.