By Sam Nussey and Anton Bridge TOKYO (Reuters) -SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.
President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.
President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.
A day after his inauguration as US President, Donald Trump unveiled a $100 billion venture to fund artificial intelligence infrastructure, backed by three of the biggest names in tech - OpenAI, SoftBank Group Corp.
U.S. President Donald Trump announced on January 21 that Japan's SoftBank Group, Open AI and Oracle will together
Last month, Trump announced with SoftBank's Son in Mar-a-Lago that SoftBank would invest $100 billion in US projects over the next four years, creating 100,000 jobs. Those investments will focus on infrastructure that supports AI, including data centers, energy generation, and chips, according to a source.
The two companies would then both own 40% of Stargate, the tech outlet said, citing comments by Chief Executive Officer Sam Altman to colleagues
Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.
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.
Stocks are approaching records in the first couple of days of Trump's presidency, with more pronounced moves in specific corners of the market this week.
SoftBank in India, like in many other parts of the world, is known for its investment in budding startups in various technologically driven avenues. On Wednesday, January 22, the company shares soared in the equity markets in Tokyo. The shares of the Japanese investment group rose after getting a much-needed boost from an unlikely source.