President Donald Trump plans to invest up to $500 billion in AI infrastructure, dubbing the initiative ‘Stargate’.

The joint venture with OpenAI, Oracle and SoftBank, aims to build out data centres and electricity generation hubs in Texas to support further AI development.

It’s expected that the initial investment will be $100bn but could easily reach five times the amount throughout the project.

While the newly appointed President is receiving praise from tech bosses, the development isn’t a shock as the initial plans for Stargate date back to the Biden administration.

“It’s big money and high-quality people,” the President said, before adding that Stargate is “a resounding declaration of confidence in America’s potential.”

While the venture will continue, Trump still aims to revoke a plethora of Biden’s executive actions, especially ones that “hinder AI innovation.”

“I’m going to help a lot through emergency declarations, because we have an emergency, we have to get this stuff built,” Trump said.

“They have to produce a lot of electricity, and we’ll make it possible for them to get that production done very easily as their own plants, if they want.”

With the current explosion of AI-driven investment taking place across the globe, it’s never been as important to keep up with the latest industry trends. Our upcoming AI summit will be taking place in Chicago from April 14-15. Get in touch to register your interest.