Who’s Who in Stargate
Unstoppable Ambition
$500 billion. This astronomical sum will be invested by four entities into AI development in the United States. While the capital comes from these firms, Donald Trump himself announced the project to showcase his resolute support, earning Silicon Valley’s favour from just his second day in office.
The 47th president of the United States held a press conference at the White House on Tuesday, accompanied by business leaders Sam Altman (ChatGPT), Larry Ellison (Oracle), and Masayoshi Son (SoftBank). Together, they unveiled the Stargate project—a name worthy of the best science fiction. The initiative involves massive investment in data centres to accelerate the development of artificial intelligence in the United States.
This manoeuvre aims to secure the country’s leadership in emerging technologies, especially against its Chinese rivals. The monumental investment brings together American firms Oracle and OpenAI (the creator of ChatGPT), Japan’s SoftBank, and the UAE’s sovereign wealth fund MGX in a joint venture. This endeavour is expected to create approximately 100,000 jobs, according to Trump.
The Hype Around Superintelligence
Masayoshi Son, founder of SoftBank, celebrated the investment, stoking excitement by claiming that Superintelligence—AI surpassing human capabilities—is on the horizon. He highlighted its potential applications in fields like science and medicine, including cancer treatment.
Although discussions about this joint venture have been ongoing for months, it seems the announcement was timed to allow Trump to endorse the project, bolstering his reputation early in his presidency.
Who’s Who in Stargate
Stargate’s first major step will be opening a data centre in Texas, followed by further expansion. “We will begin by investing $100 billion immediately,” said Altman. “I believe this will be the most important project of this era,” he added. The total $500 billion will be invested over the next five years.
AI development, which demands vast energy resources and water, now has secured funding for the coming years in the U.S., though questions about its environmental sustainability remain.
In addition to Oracle, SoftBank, and OpenAI, key tech players like Microsoft, Nvidia, and ARM will serve as technological partners for the project. Organisational responsibilities will be divided, with SoftBank overseeing financial management and OpenAI taking charge of operations.
Unstoppable Ambition
This initiative not only strengthens Trump’s ties with Silicon Valley but also wins favour with the cryptocurrency sector through recent announcements, including the launch of two of his own ‘memecoins.’
In another nod to tech powerhouses, Trump granted clemency to Ross Ulbricht, founder of the Silk Road dark web marketplace, who had been serving a life sentence. This move is likely to be well-received among cryptocurrency advocates, as cryptocurrencies were a common payment method on the platform, which facilitated the trade of illicit goods.
To ensure no regulatory obstacles impede this new initiative, Trump has also rescinded an executive order signed by Biden in 2023. The order had aimed to promote sustainable and controlled AI development, but Trump’s decision signals a prioritisation of rapid growth over regulation.
