OpenAI, Oracle Corp., Japanese SoftBank and the UAE investment company MGX are creating a joint venture Stargate to build data centers in the United States. The companies are allocating $100 billion, planning to increase the volume of investments to $500 billion in four years. These funds include projects launched during the presidency of Joe Biden. The partners' shares are not disclosed. The creation of Stargate was announced at the White House with the participation of Donald Trump, Sam Altman (OpenAI), Larry Ellison (Oracle) and Masayoshi Son (SoftBank). The first data center has been under construction in Texas since last year. Oracle will manage the site, and OpenAI plans to become the operator of the entire Stargate network. SoftBank will take over financing by attracting borrowed funds, and Song will head the board of directors. The CEO's hiring has not been completed yet. Stargate plans to raise capital from additional investors. Microsoft, Arm Holdings and Nvidia will become technology partners. Microsoft will remain the main provider of OpenAI in the field of cloud computing, but will provide access to other providers.
