SoftBank Group (TYO:9984) is part of a $100 billion initiative, endorsed by US President Donald Trump, to boost AI development in the US using renewable energy, reported Bloomberg News on Friday.
The Stargate joint venture with OpenAI and Oracle Corp. will build US-based infrastructure, including data centers, added the news wire.
Initial investments will total $100 billion, with future plans for at least $500 billion, though details on power sources remain unspecified, said the report.
SB Energy, a SoftBank unit, is expected to provide solar and battery solutions for the venture, added Bloomberg News.
Neither the White House nor involved companies offered comments, added the news report.
Softbank has not replied to MTNewswire's queries at press time.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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