US President Donald Trump on Tuesday announced major investments in artificial intelligence (AI) infrastructure, led by Japan's SoftBank, Oracle, and ChatGPT creator OpenAI, VOA reports.

The project, dubbed Stargate, will invest at least $500 billion in the AI infrastructure of the US, Trump said in a statement at the White House.

This monumental project is a powerful statement of confidence in America's potential under the leadership of a new president, he said the day after he was inaugurated for a second term.

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle founder Larry Ellison also attended the press conference where Trump announced the launch of Stargate.

The project comes as major tech companies scramble to meet AI's massive computing demands and find the electricity needed to scale new technologies.

Trump said Stargate will build physical and virtual infrastructure to support next-generation AI advances, including building massive data centers.

SoftBank and OpenAI are Stargate's lead partners, with SoftBank having financial responsibility and OpenAI having operational responsibility, OpenAI said in a statement.

The announcement added that MGX is the fourth shareholder, with Arm, Microsoft, NVIDIA, Oracle, and OpenAI being key technology partners at launch.

Construction has already begun in Texas, and they are assessing potential locations across the US for additional campuses as final agreements are being finalized, the statement said.