SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.
SoftBank Group Corp. (TYO:9984) and OpenAI have each pledged $19 billion to Stargate, a groundbreaking technology initiative focused on AI data centers, The Information reports. OpenAI and SoftBank will each hold a
The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
Oracle is a natural partner as it is already one of the biggest data center operators in the U.S., while SoftBank has the money required to finance ambitious infrastructure projects. OpenAI, of course, is widely regarded as one of the leaders in terms of AI development.
Salesforce CEO Marc Benioff said that the two AI leaders, Sam Altman and Mustafa Suleyman do not care for each other.
Microsoft on Tuesday said it has changed some key terms of a deal with OpenAI after the ChatGPT creator announced a joint venture with Oracle and Japan's SoftBank Group to build up to $500 billion of new AI data centers in the United States.
US President Donald Trump announced that OpenAI, SoftBank Group and Oracle will unveil Stargate and invest $500 billion over the next four years to help the United States stay ahead of China and other rivals in the global AI race.
The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.
Morgan Stanley (NYSE:MS) reiterated its Equal-weight rating on Softbank (OTC:SFTBY) Group Corp. (9984:JP) (OTC: SFTBY) and maintained a price target of JPY9,000.00. The firm also highlighted Softbank as a Research Tactical Idea,