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The formation of a new private sector company to invest US$500 billion across the US over the next 4 years, has been announced by President Donald Trump.
The company, named the Stargate Project, is in partnership with initial equity funders from SoftBank, Oracle, OpenAI and MGX. SoftBank will have financial responsibility; OpenAI will have operational responsibility. Masayoshi Son, the CEO of SoftBank, will be the chairman. Arm, Microsoft, NVIDIA, Oracle, and OpenAI are the key initial technology partners.
“We are announcing the largest AI infrastructure project, by far, in history, and it’s all taking place right here, in America”
— President Donald Trump, at the White House
The investment promises to create “hundreds of thousands of American jobs” and the buildout has already started with ten buildings on one campus site in Texas.
The explosion of Artificial Intelligence (AI) expected to spark a 10-year critical mineral supercycle as the massive energy needs of new AI data centers will increase pressure on global supply chains already under strain to meet global net-zero targets.
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