The United States of America is getting serious about being the leader in artificial intelligence. And they’ve found half a trillion dollars to do it.

‍What’s happening:‍

• Oracle (NYSE: ORCL), SoftBank, OpenAI and MGX have officially launched a new company known as Project Stargate to inject $500B USD into accelerating innovation in artificial intelligence technology in the United States of America
  

Why it matters:‍

• This is the largest investment in American history focused on developing artificial intelligence and machine learning
  

By the numbers:‍

• SoftBank will be financially responsible for the new company and will initially invest $100B USD
  
• Over the next 48 months, SoftBank has publicly stated they will invest the additional $400B USD
  

Going deeper:‍

• Project Stargate is largely focused initially on building out large scale data centres to power artificial intelligence computing needs, with the first data centres already being under construction in Abilene, Texas
  
• Other large technology giants including Arm (NASDAQ: ARM), Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) will also be involved with Project Stargate to accelerate innovation in both software and hardware for artificial intelligence
  

The fine print:‍

• It is not yet clear what the ownership structure of Project Stargate is or how revenues will be split from new infrastructure and technology that is jointly created

‍