President Trump unveiled the AI initiative on Tuesday alongside the executives of OpenAI, Oracle and Softbank.

President Donald Trump called Stargate, a new joint venture by OpenAI, Oracle, and SoftBank, "the largest AI infrastructure project in history."

SoftBank, OpenAI, and Oracle are launching a $500 billion joint venture named Stargate to fund AI infrastructure in the U.S. The initiative, praised by President Trump, aims to deploy $100 billion immediately for projects like data centers and cancer research.

President Donald Trump said Tuesday that he would be in favor of Elon Musk or Larry Ellison purchasing TikTok and giving half ownership with the U.S. government.

Elon Musk, the close Trump adviser who has his own AI company and was notably not at the press conference, erupted Wednesday with a relentless stream of online mockery. “They don’t actually have the money,

Stargate is supposed to spend $500 billion on AI infrastructure, President Trump said. But Elon Musk suggested that the venture has much less cash.