US President Donald Trump announced a joint venture (JV) with technology giants OpenAI, SoftBank Group and Oracle to build out AI infrastructure, initially worth $100 billion.

At a press conference, Trump revealed the private sector investment by the three companies, which could grow to $500 billion over the next four years, is part of a plan to fund the JV called Stargate.

SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle executive chair Larry Ellison met with the Trump administration on 21 January.

Stargate will initially focus on a data centre project in the US state of Texas before expanding to other states. Additional investors are expected to join the project.

In December 2024, Son pledged his company would invest $100 billion in the US over the next four years to create 100,000 jobs focused on AI and related infrastructure.

Trump confirmed during the briefing Stargate is separate from the investment Son detailed.

Earlier this month, Trump reportedly secured a $20 billion investment from United Arab Emirates-based property billionaire Hussain Sajwani to build data centres across the US.