SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.

Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.

The $500 billion Stargate project is projected to create hundreds of thousands of jobs. Here's what's known so far.

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

SoftBank, OpenAI and Oracle Corp have announced the creation of a joint company called 'Stargate', which they say will invest $500 billion over the next four years in AI.