Trump to announce new AI investment boost with OpenAI, Softbank, Oracle

(Bloomberg) – President Donald Trump is expected to announce new investment in artificial intelligence led by Softbank Group Corp., OpenAI LLC, and Oracle Corp. With the three companies preparing to announce a multibillion-dollar joint venture.

Most read from Bloomberg

Trump will be joined by Softbank’s Masayoshi Son, OpenAI’s Sam Altman and Oracle’s Larry Ellison to announce an initial $ 100 billion investment that could reach $ 500 billion over the next four years – at Tuesday afternoon, according to White House officials.

Oracle shares rose about 6% on this news. The company’s stock has risen about 56% in the past year. Softbank US Deposit Receipts up 5%

Trump is signaling a comprehensive approach to securing U.S. leadership in emerging technologies. Two weeks before taking office, he announced a $ 20 billion investment from Dubai-based billionaire Hussain Sajwani for a new data center across the United States. On Monday, shortly after taking the oath of office, he dismantled the AI shield put by Joe Biden and signed a series of measures to boost US energy development in response to rising energy demand. From the data center.

The announcement was first reported by CBS News. The company did not immediately respond to a request for comment.

It is unclear whether the initiative, dubbed the “Stargate”, is an addition or part of the $ 100 billion that Son promised SoftBank alone would invest during the event with Trump at Mar-‘s real estate. his a-Lago last month.

At the time, Son said Softbank’s efforts would create 100,000 jobs focusing on artificial intelligence and related infrastructure, including investments in data centers, electronics and energy.

“I really want to congratulate President Trump on his great victory, and my confidence in the US economy has grown significantly with his victory,” Son said at the time.

Despite the public promises, there are immediate questions about where SoftBank will get the capital to fund its initiative. The company had 3.8 trillion yen ($ 25 billion) in cash and equivalents on its balance sheet at the end of September. However, the company’s finances have recovered with the initial public offering of chip design firm Arm Holdings Plc.