Stargate "will be the most important project of this era,” OpenAI CEO Sam Altman said Tuesday alongside Trump.

President Donald Trump plans to announce an enormous AI infrastructure investment in the US. CBS, NYT, and the Financial Times report that OpenAI, SoftBank, and Oracle aim to set up a joint venture called Stargate, with a plan to commit $100 billion at first and up to $500bn over the next four years.

Donald Trump and three top tech firms announced on Tuesday that they would create a new company called Stargate to grow artificial intelligence infrastructure in the U.S. The President also said the three companies will collaborate and invest $500 billion in the AI infrastructure project.