AI initiative Stargate, backed by Oracle, OpenAI, and SoftBank, will focus on infrastructure, starting with data centers in Texas.

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.

President Trump on Tuesday announced a joint venture to fund artificial intelligence infrastructure worth billions of dollars with the leaders of Softbank Group Corp., OpenAI LLC, and Oracle Corp., an effort aimed at speeding development of the emerging technology.

President Donald Trump was joined by the CEOs of Softbank, OpenAI and Oracle to announce a major private artificial intelligence infrastructure investment.

The effort was described as a $500 billion investment in artificial intelligence. Read how a small Texas city with a population of about 130,000 fits into the plans.

OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, the report added, saying SoftBank CEO Masayoshi Son, OpenAI's Sam Altman and Oracle's Larry Ellison are due at the White House later on Tuesday.

President Trump is set to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the

OpenAI, Oracle and SoftBank unveiled AI infrastructure plans at White House.

Oracle shares surged Tuesday after reports that President Trump could soon announce an artificial intelligence initiative involving the company.

Oracle stock jumped after a report that the company is set to invest billions in an AI infrastructure buildout with Trump's backing.

He doesn’t sound intimidated, after giving to Trump’s inaugural.