President Donald Trump has announced a major investment of up to $500 billion in artificial intelligence infrastructure in the United States, spearheaded by OpenAI, SoftBank, and Oracle.

The new joint venture, called Stargate, was unveiled during a White House briefing on Tuesday, with SoftBank CEO Masayoshi Son, OpenAI's Sam Altman, and Oracle's Larry Ellison in attendance.

Trump stressed the importance of maintaining AI development within the U.S., underscoring the competitive global markets, especially in relation to China.

Executives from the three companies expressed their dedication to investing the funds over the next four years, although specific partnership details were not immediately shared.

Ellison stated that ten data centers for the project are currently being built in Texas, with plans for more facilities nationwide.

The venture is projected to create over 100,000 jobs and potentially revolutionize healthcare by speeding up disease cures.

Additional investors are expected to join the venture, though their identities have not yet been disclosed.