President Donald Trump is supporting the newly formed Stargate to advance AI as construction on the company's first data center gets underway in Abilene. Trump announced the new entity formed by OpenAI,

The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

Yes, that's the name of a 1994 Roland Emmerich movie. It's now a big infrastructure project to help power tech giants' foray into AI.

Working alongside companies such as OpenAI and Softbank, Trump's new Stargate project aims to herald the "golden age" of AI.

Donald Trump announces tech companies will invest up to $500 billion to fund artificial intelligence infrastructure

President Trump and the CEOs of OpenAI, Softbank, and Oracle are expected to announce a new $500 billion AI initiative called "Stargate," CBS first reported. Sources tell CBS that the plan is to start with a $100 billion commitment and a Stargate data center in Texas,

President Trump is announcing the Stargate AI program that includes up to $500 billion in investment from Oracle, OpenAI, and SoftBank