Donald Trump is set to announce a $100 billion AI infrastructure investment.

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Donald Trump is set to announce billions of dollars in private investment in massive artificial intelligence infrastructure backed by OpenAI, SoftBank and Oracle.

Stargate, the joint venture, was poised to receive an initial $100 billion cash injection from the tech giants, rising to $500 billion over the next four years, two people familiar with the matter said. Microsoft is also involved in the project, one of the people said on Tuesday.

Stargate will be announced by the president at the White House on Tuesday afternoon, with SoftBank chief Masayoshi Son, OpenAI chief Sam Altman and Oracle founder Larry Ellison in attendance.

The plans, first reported by CBS News, come as tech executives look to court Trump, who began his second term in the White House on Monday.

Stargate aims to increase its capacity to train and operate new AI models. The public briefed on the plan was to build a data center project first in Texas before expanding to other states.

OpenAI declined to comment, while Microsoft, Oracle and SoftBank did not respond to requests for comment.

This is a developing story.