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Elon Musk just cast doubt on how much Stargate has raised

Jan 22, 2025 - businessinsider.com
President Trump announced a $500 billion AI infrastructure venture called Stargate, which he described as the largest AI infrastructure project in history. The initiative, a collaboration between OpenAI, Oracle, and SoftBank, aims to build AI infrastructure in the US. However, Elon Musk, now a key advisor to Trump, suggested that the venture has raised significantly less than the projected amount, claiming SoftBank has secured "well under $10B." This claim was disputed by OpenAI CEO Sam Altman, who invited Musk to visit a site where the funding is already being utilized.

The announcement has highlighted tensions among major tech figures, including Musk and Altman, who are engaged in a legal battle as Musk's xAI competes with OpenAI. Despite the discord, the Stargate project marks an early collaboration between Big Tech and Trump's administration, with promises of significant investments over the next four years to advance AI capabilities and create jobs in the US. Microsoft CEO Satya Nadella, when asked about Musk's claims, refrained from confirming or disputing them, instead emphasizing Microsoft's commitment to its own $80 billion AI development plan.

Key takeaways:

  • President Trump announced Stargate, a $500 billion AI infrastructure venture, as the largest AI infrastructure project in history.
  • Elon Musk, a key advisor to Trump, suggested that the effort has raised far less than the intended $500 billion, with SoftBank securing well under $10 billion.
  • OpenAI CEO Sam Altman disputed Musk's claim and invited him to visit a site where the funding is already being utilized.
  • The Stargate project marks an early collaboration between Big Tech and Trump's administration, aiming to make AGI possible in the US and create new jobs.
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