Former President Trump has announced an unprecedented $500 billion AI infrastructure initiative called "The Stargate Project," partnering with tech giants.

The $500 billion Stargate project is projected to create hundreds of thousands of jobs. Here's what's known so far.

Open AI CEO Sam Altman, Oracle co-founder Larry Ellison and Softbank CEO Masayoshi Son appeared alongside President Donald Trump to announce the Stargate plan.

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

Trump said the private sector joint venture will build data centers and create more than 100,000 jobs in the United States.

Hours after returning to the White House, President Donald Trump made a symbolic mark on the future of artificial intelligence by repealing former President Joe Biden’s guardrails for the fast-developing technology.

At a press conference capping his first full day back in the White House, Donald Trump stood beside three of the most influential executives in the world—Sam Altman of OpenAI, Larry Ellison of Oracle,

Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.