Tech Giants Team Up for $500B Project Stargate, Aiming to Boost US AI Capabilities
OpenAI, Oracle, SoftBank, and Nvidia have joined forces to launch Project Stargate, a colossal AI data center project. The ambitious venture aims to invest $500 billion in the US, creating over 100,000 jobs, and will reportedly span across 20 sites, each 500,000 square feet in size.
The project's initial phase, Stargate I, is set to cost around $12 billion and will boast an impressive 1.2 gigawatts of computing power. OpenAI and Oracle have signed a significant agreement, with OpenAI committing to purchase $300 billion worth of cloud computing services from Oracle over five years. Meanwhile, OpenAI and Nvidia have formed a strategic partnership worth $100 billion to build and deploy 10 gigawatts of AI data centers.
SoftBank initially pledged to invest $100 billion immediately, with the remaining $400 billion to follow over four years. However, the company's decision to seek a $16.5 billion bridge loan raised concerns about potential financial strains. The project's capacity has since been expanded to include an additional 4.5 gigawatts, totaling 5.7 gigawatts. OpenAI's long-term goal is to achieve 250 gigawatts of computing power by 2033.
Project Stargate, backed by OpenAI, Oracle, SoftBank, and Nvidia, is poised to significantly boost the US's AI capabilities. With a planned investment of $500 billion and the creation of over 100,000 jobs, the project's impact on the tech industry and economy is expected to be substantial. As the project progresses, the world watches to see how these tech giants will shape the future of artificial intelligence.
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