IBL News | New York
Elon Musk cast doubt on President Trump’s first significant tech investment announcement when he announced a joint venture between OpenAI, SoftBank, and Oracle to create at least $100 billion in computing infrastructure to power artificial intelligence.
Mr. Musk said that the venture, dubbed Stargate, did not have the financing to achieve the promised investment levels.
“They don’t have the money,” Mr. Musk wrote in reply to an OpenAI post on the announcement. “SoftBank has well under $10B secured. I have that on good authority.”
President Trump claimed that those companies decided to spend up to $500 billion building data centers, making the United States a global leader in the technology, beating out China.
Stargate already has $100 billion in hand, as SoftBank, OpenAI, Oracle, and MGX, an investment group in the United Arab Emirates that focuses on AI, provided the financing.
Elon Musk has been battling with OpenAI’s chief executive, Sam Altman. Mr. Musk, who helped found the company, has sued OpenAI and Mr. Altman for antitrust violations.
Mr. Altman took to X Wednesday morning to refute Mr. Musk’s assertions.
