SoftBank Joins OpenAI, Oracle in AI Pact Unveiled by Trump (3)

SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

“We’re starting off with tremendous investment coming into our country at levels that nobody’s really ever seen before,” Trump said at the White House on Tuesday.

The president was joined by SoftBank’s Masayoshi Son, OpenAI’s Sam Altman and Oracle’s Larry Ellison. The joint venture will deploy $100 billion “immediately” and have a goal of increasing to “at least” $500 billion to build ...