SoftBank, Oracle, MGX form Stargate Project with ChatGPT maker, intend to outspend Microsoft this year

OpenAI, Oracle, SoftBank, and investment firm MGX on Tuesday announced plans to spend $500 billion on AI infrastructure in America over the next four years, to be used by the ChatGPT super-lab.

Specifically, the four will pour said billions, starting with $100 billion, into a new company named The Stargate Project, which will be operated by OpenAI. Stargate will effectively take that money and build AI infrastructure for OpenAI to use to create more machine-learning models.

Financial management will be handled by Japan’s SoftBank, which in December committed $100 billion in US investment over the next four years; SoftBank supremo Masayoshi Son will be chairman of Stargate.

"We will begin deploying $100 billion immediately," the companies wrote in a joint statement. "This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world."

At a White House ...