The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

He previously floated a joint venture, saying that the US should be entitled to half of the app.

President Donald Trump said he would be open to billionaire supporter Elon Musk or Oracle Corp. Chairman Larry Ellison purchasing social video app TikTok as part of a joint venture with the US government.

The president said he’s also open to another tech giant to acquire TikTok: Larry Ellison, co-founder of Oracle. Ellison was present at the White House for a $500 billion AI infrastructure partnership between the Trump administration and OpenAI, Softbank and Oracle. Oracle, a software company, houses most of TikTok's servers

Larry Ellison unveiled plans for an AI-driven cancer vaccine system that could deliver personalized treatments within 48 hours.

U.S. President Donald Trump on Tuesday announced a private sector investment of up to $500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology.

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.

President Donald Trump announced Tuesday a joint venture called Stargate, which will pump billions of dollars of private funding into artificial intelligence infrastructure in the United States.

Trump launched a $500 billion private-sector AI initiative called the Stargate Project while pardoning Silk Road founder Ross Ulbricht, sparking rallies in both tech stocks and AI-related cryptocurrencies.

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. Recently,

The president announced a major AI investment project, which Oracle Chairman Larry Ellison said could be used to cure cancer.