President Donald Trump announced a major investment of up to $500 billion for building artificial intelligence infrastructure in the United States, spearheaded by OpenAI, SoftBank, and Oracle.

The new joint initiative, named Stargate, was unveiled during a White House briefing on Tuesday, with the presence of SoftBank CEO Masayoshi Son, OpenAI's Sam Altman, and Oracle's Larry Ellison.

Trump highlighted the necessity of keeping AI development within the United States, noting the competitive nature of global markets, especially with China.

The executives from the three companies expressed their commitment to deploying the funds over the next four years, though specific details of the partnership were not immediately available.

Ellison mentioned that ten data centers for the project are currently being built in Texas, with plans for additional facilities nationwide.

The venture is anticipated to generate over 100,000 jobs, with AI having the potential to dramatically influence healthcare by speeding up disease cures.

Additional investors are expected to join the venture, although their identities have not been disclosed.