US President Donald Trump announced a joint venture (JV) with technology giants OpenAI, SoftBank 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 chairman Larry Ellison met with the Trump administration on Tuesday (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 also 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 conference that Stargate was separate from the investment announced at the end of the year.

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