Subtotal: £18.00
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The venture is a partnership between OpenAI, Oracle, Japan’s Softbank – led by Masayoshi Son – and MGX, a tech investment arm of the United Arab Emirates government.
The companies said the new venture, which was in the works before Trump took office, had $100bn in funding available immediately, with the rest to come over four years, creating an estimated 100,000 jobs.
Commenting on a post on X where OpenAI detailed the plans, Musk, who owns the platform, wrote “They don’t actually have the money.”
“SoftBank has well under $10B secured. I have that on good authority,” he added.
Musk, however, did not provide any details or substantiation for how he had arrived at the much smaller amount.
Altman then replied: “Wrong, as you surely know.”
“Want to come visit the first site already under way?” Altman added. “This is great for the country. I realize what is great for the country isn’t always what’s optimal for your companies, but in your new role I hope you’ll mostly put US first.”
Musk is spearheading Trump’s government efficiency efforts and will closely advise Trump on spending. He, though, has also been feuding with Altman since leaving OpenAI’s board in 2018 and launching his own AI start-up.
A source close to Stargate said it was not clear where Musk had gotten his information and that the company was well-positioned to deploy $100 bn.
Stargate’s first data centre is under construction in Texas, according to Oracle’s chief technology officer, Larry Ellison, and more will be built in other US locations.
“I think this will be the most important project of this era,” said Altman at Trump’s Tuesday announcement, standing alongside the President at the White House.
“We wouldn’t be able to do this without you, Mr President,” he added, even though the project was underway before Trump won November’s election.
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