[6][7][8][9] The "Stargate" term dates back to 2024, when OpenAI and Microsoft started developing a $100 billion AI supercomputer.
[10][11] On January 21, 2025, President Donald Trump announced the venture at a White House press conference, accompanied by Sam Altman from OpenAI, Larry Ellison from Oracle and Masayoshi Son from SoftBank.
[10] Elon Musk, CEO of OpenAI's competitor xAI, said that the venture lacked the financing to meet the promised investment levels.
[14] Arm CEO Rene Haas stated that the financial backing behind the project is "quite solid".
[15] The Information reported that Softbank and OpenAI have each committed $19 billion of capital to initially fund Stargate and would each hold 40% ownership interest in the joint venture, while Oracle and MGX would each contribute $7 billion, and the remaining funds would be sourced from limited partners and debt financing.