Stargate: A New Joint Venture by OpenAI, SoftBank, and Oracle

user avatar

by Giorgi Kostiuk

2 years ago

OpenAI, SoftBank, and Oracle have joined forces to create a new joint venture called Stargate, with an initial investment of $100 billion.

Announcement of the Collaboration

During a White House briefing, the new US president announced the establishment of Stargate. The initial investment is set at $100 billion. Executives Masaesi Son, Sam Altman, and Larry Ellison were present at the event.

China is a competitor, others are competitors. We want it to be in this country and we're making it available.Donald Trump

Impact and Future Prospects

The project is expected to create over 100,000 jobs. Altman called it 'the most important project of this era.' Oracle CEO Larry Ellison described the program as exciting for Oracle. Oracle's shares rose by 7% following the announcement. Participants predict a positive impact on the healthcare sector.

I believe as this technology progresses, we will see diseases get cured at an unprecedented rate.Sam Altman

Context and Previous Initiatives

In December, Son pledged to invest $100 billion in AI infrastructure in the US. On his first day in office, Trump canceled Biden's 2023 executive order aimed at reducing AI risks, arguing that it hinders innovation. In April 2024, it was reported that Altman plans to form a global AI coalition.

The creation of Stargate reflects the intention of major tech companies to bolster their presence in artificial intelligence amidst political and economic challenges.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Samsung Wallet's Stablecoin Account Now Available for Galaxy Users

Samsung Wallet's Stablecoin Account launched for eligible US Galaxy users, enabling USDC transactions.

user avatarMiguel Rodriguez

BitFuFu Reports Decrease in Bitcoin Production Amid Rising Network Difficulty

BitFuFu reported a decrease in Bitcoin production, mining 137 BTC in October compared to 167 BTC in September, due to increased network difficulty.

user avatarLuis Flores

Strive Reports Significant Bitcoin Accumulation and Financial Performance

Strive reports a GAAP net income of $509 million for Q3 2026, with significant Bitcoin acquisitions totaling 23,260 BTC.

user avatarArif Mukhtar

Bitcoin's Potential for a Major Rally

Crypto analysts observe a pattern on Bitcoin's weekly chart reminiscent of 2023, suggesting a possible upcoming rally.

user avatarMaria Gutierrez

Ethereum Foundation Announces Delay in Glamsterdam Testing

On November 6, the Ethereum Foundation announced a delay in the Glamsterdam testing due to concerns about proposed gas changes affecting existing applications.

user avatarDavid Robinson

Zcash Price Consolidation Signals Potential Breakout

Zcash (ZEC) is currently consolidating in a price range that resembles its previous breakout pattern, suggesting a potential upward movement.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.