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.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

Larry Ellison, co-founder and chief technology officer ... who's backed ventures such as Uber and WeWork. Oracle, which has a large campus in Austin, saw its stock jump more than 7% during normal ...

President Donald Trump on Tuesday talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a

Larry Ellison, co-founder of Oracle Corporation, has an estimated net worth of approximately $200 billion, currently placing him among the third richest person in the world, according to Forbes.

President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.

Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.

This is a massive head start, and cultural symmetry that seemed to make American AI predestined. Open AI is backed by a US$14 billion investment from Microsoft, and has access to the cloud infrastructure that powers its Large Language Model.

Trump called the joint venture - known as Stargate - "a new American company that will invest $500 billion at least in AI infrastructure in the United States," promising that it will create more than 100,000 jobs. He made clear that the initiative is aimed at thwarting China and its AI efforts.

US tech titans Elon Musk, Mark Zuckerberg and Jeff Bezos are taking a prominent place in the new Trump era, but another player from another era -- Oracle boss Larry Ellison -- is making a surprise return.

Oracle founder Larry Ellison said the Stargate project, a joint venture with OpenAI and Softbank, will help to fuel the development of a cancer vaccine.

US tech giants are in panic mode as Chinese AI lab DeepSeek's latest model surpasses OpenAIs ChatGPT on Apples US App Store. President Donald Trump and tech leaders announced the $500 billion 'Stargate' initiative to bolster US AI dominance by creating 100,