The president said it will be the largest AI infrastructure ever built and that it will help counter technology threats from China and other countries.

U.S. President Donald Trump announced Stargate, a $500 billion AI infrastructure project that's expected to provide 100,000 jobs and boost the American economy, but Elon Musk believes the three companies leading the project don't have the funds.

President Donald Trump is expected to announce a new investment push for artificial intelligence led by Softbank Group Corp., OpenAI LLC, and Oracle Corp., with the three companies preparing to announce a joint venture worth billions of dollars.