President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

The initiative announced by President Donald Trump will aim to "secure American leadership in AI" while also creating jobs and economic benefit.

Microsoft (MSFT.O) has announced that it changed some key terms of a deal with OpenAI after the ChatGPT creator announced a joint venture with Oracle (ORCL.N) and Japan’s SoftBank Group (9984.T) to build up to $500 billion of new AI data centers in the United States.

By Sam Nussey and Anton Bridge TOKYO (Reuters) -SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.

SoftBank Group CEO Masayoshi Son has made a strategic pivot toward the US market, appearing alongside President Donald Trump twice since his November election victory to unveil major investment plans.

OpenAI, Oracle and SoftBank formed a new joint venture called Stargate to invest in data centers, building on major U.S. investments in the technology.

SoftBank shares surged — on five times the previous day’s volume — on Wednesday after the Japanese investment group landed a starring role in an U.S. artificial intelligence infrastructure buildout package backed by President Donald Trump.

WASHINGTON — President Trump unveiled a $500 billion artificial intelligence infrastructure project Tuesday at the White House alongside reps from three tech and investment giants — with those business leaders asserting the initiative could cure cancer.

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund Stargate, a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday.

Trump said the private sector joint venture will build data centers and create more than 100,000 jobs in the United States.

Oracle founder Larry Ellison said the Stargate project, a joint venture with OpenAI and Softbank, will help to fuel the development of a cancer vaccine.