Joint venture Stargate will reportedly receive an investment of a staggering $19 billion each from SoftBank and OpenAI. This significant capital commitment will facilitate the construction of AI-focused data centers across the U.S.
According to sources, both SoftBank and OpenAI are prepared to stake 40% each in Stargate via their sizeable capital contributions. This infrastructure project boasts additional backing from MGX, a Middle East AI fund.
Stargate aims to utilize a significant portion of its projected $500 billion capital to foster OpenAI’s AI work. An initial pledge of $100 billion will support the development of an expansive facility in Abilene, Texas.
Despite skepticism from competitors, such as Elon Musk of xAI, who contest the joint venture’s capacity for such investment, Stargate remains confident in its financial prowess and future impact.
Original source: Read the full article on TechCrunch
