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

CZ Calls Out Elon Musk Amid Binance Hack

Changpeng Zhao, co-founder of Binance, publicly addressed Elon Musk after his mocking response to a significant hack affecting the exchange.

user avatarMaria Fernandez

RUNE Price Surges Amid Ongoing Investigations into Stolen Cryptocurrency

RUNE's price increased from a local low of 0.59 to approximately 0.67 as investigations into stolen cryptocurrency movements through decentralized platforms, including THORChain, intensified.

user avatarGustavo Mendoza

Trezor Issues Urgent Security Warning for Safe 5 Wallets

Trezor has issued a security warning to customers who purchased Safe 5 hardware wallets through the Southeast Asian reseller CryptoBilis since March 2026, advising them to transfer their cryptocurrency to a newly generated wallet due to a potential hidden cellular implant.

user avatarRajesh Kumar

MEXC Introduces Canton 0Fee Carnival for Traders

MEXC has launched the Canton 0Fee Carnival, enabling users to trade CC spot and futures pairs without fees from October 30 to November 30, 2026, and participate in a prize pool of 1 million.

user avatarMiguel Rodriguez

XRP Ledger Foundation Clarifies Proposal's Routine Nature

The XRP Ledger Foundation clarifies that proposed changes to the token approval process are routine improvements and unrelated to any security incidents.

user avatarLuis Flores

XRP Ledger Developers Propose Tighter Token Approval Controls

XRP Ledger developers propose amendments for stricter token approval controls to enhance protocol safeguards and ensure consistent application of approval requirements.

user avatarArif Mukhtar

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.