Even so, Mr Ellison remains the world’s fifth-richest man, and Oracle the third-biggest software firm. He has a thing or two to teach fellow tech titans, in particular his friend Elon Musk, about staying power.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

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President Donald Trump on Tuesday talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a

President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.

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Some of the funding would be used to help cover OpenAI’s $18 billion commitment to the recently announced Stargate project.

Trump called the joint venture - known as Stargate - "a new American company that will invest $500 billion at least in AI infrastructure in the United States," promising that it will create more than 100,000 jobs. He made clear that the initiative is aimed at thwarting China and its AI efforts.

It could be one of the biggest private computing infrastructure projects in history — or a disaster.

This follows the announcement of Stargate, a $500 billion initiative by SoftBank, OpenAI, and Oracle aimed at keeping the U.S. ahead in the global AI race.

This is a massive head start, and cultural symmetry that seemed to make American AI predestined. Open AI is backed by a US$14 billion investment from Microsoft, and has access to the cloud infrastructure that powers its Large Language Model.

In his newly built palace near Tokyo, lined by stone statues of Roman emperors and surrounded by an 18-hole golf course, Masayoshi Son was stewing. After declaring for years the imminent arrival of the artificial-intelligence revolution,