President Donald Trump is to announce private sector investment to build artificial intelligence infrastructure in the United States totaling billions of dollars, CBS News reported on Tuesday.
OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, the report added, saying SoftBank CEO Masayoshi Son, OpenAI's Sam Altman and Oracle's Larry Ellison are due at the White House later on Tuesday.
Company executives are expected to commit $100 billion initially and then up to $500 billion into Stargate over the next four years, according to the report.
Oracle, OpenAI and SoftBank did not immediately respond to requests for comment.
It was not immediately clear if the announcement is an update to a previously reported-on venture between Microsoft and OpenAI.
In March 2024, The Information, a news website, reported those companies were working on plans for a $100 billion data center project that would include an artificial intelligence supercomputer called "Stargate" set to launch in 2028.
Rapid adoption of generative artificial intelligence technology has led to sky-rocketing demand for AI data centers capable of handling more advanced tasks than traditional data centers.
Earlier Tuesday, White House Press Secretary Karoline Leavitt teased the 4 p.m. ET announcement on Fox News.
"It's going to be a massive announcement and it's going to prove that the world knows that America is back," Leavitt said.
© 2025 Thomson/Reuters. All rights reserved.