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.

The initiative announced by President Donald Trump will aim to "secure American leadership in AI" while also creating jobs and economic benefit.

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday, citing OpenAI CEO Sam Altman speaking to colleagues.

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 is kicking off his full first day in the White House with high-level congressional consultations and a high-profile infrastructure announcement, as he begins to chart out his legislative and political strategy for his second term.

President Donald Trump gives remarks in the Roosevelt Room where he announced a new AI initiative at the White House in Washington D.C., on Tuesday, January 21, 2025, as Softbank CEO Masayoshi Son, Oracle CEO Larry Ellison, and OpenAI CEO Sam Altman look on. | Aaron Schwartz/Sipa USA

When President Donald Trump touted a multibillion-dollar artificial intelligence project led in part by OpenAI, one question sprang to mind: Where's Microsoft?

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

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

WASHINGTON — President Trump unveiled a $500 billion artificial intelligence infrastructure project Tuesday at the White House alongside reps from three tech and investment giants — with those business leaders asserting the initiative could cure cancer.

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.

President Donald Trump said Wednesday evening that he was nominating former fast-food exec Andrew Puzder to be his ambassador to the European Union.