President Trump is set to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the United States, CBS News’ Jennifer Jacobs reports. OpenAI, Softbank (SFTBY) and Oracle (ORCL) are planning a joint venture called Stargate, according to multiple people familiar with the deal. SoftBank CEO Masayoshi Son is expected at the White House Tuesday afternoon, along with Sam Altman of OpenAI and Larry Ellison of Oracle. Executives from the companies are expected to say they plan to commit $100B initially and pour up to $500B into Stargate over the next four years, the author says. Shares of Oracle are up almost 4% to $166.88 in afternoon trading.
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