Announced by President Donald Trump in January 2025, Stargate is a $500 billion generative AI infrastructure venture in the US, led by OpenAI, Oracle, Japanese telecoms giant SoftBank, and MGX, an investment firm based in the United Arab Emirates. OpenAI intends to operate the data centres. Oracle will provide server infrastructure and leasing.

Oracle shares gained as much as 3.9 per cent to $227.46, a record high, following the news. The stock has jumped 36 per cent this year, fueled by investor enthusiasm in its cloud business

OpenAI will rent “additional capacity from Oracle totaling about 4.5 gigawatts of data center power in the US,” Bloomberg reports. [Link: Oracle, OpenAI Expand Stargate Deal for More US Data Centers | | bloomberg.