Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

The White House broke its days-long silence about SpaceX CEO Elon Musk on Friday, as questions swirled about whether Musk had rankled President Donald Trump when he publicly bashed Stargate, the Trump administration's first major tech initiative.

Group, led by Japanese billionaire Masayoshi Son, plans to approach private equity firms Apollo Global Management (NYSE:APO) and Brookfield for funding assistance with the Stargate AI project, Nikkei reported.

Elon Musk had sharp words for a private-sector partnership touted this week by the Trump administration to hasten the development of artificial intelligence infrastructure. “They don’t actually have the money,” Musk said of two of the participants in the $500 billion initiative, OpenAI and SoftBank, on his social media site X.

Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.

Bannon tore into Musk, revealing another fissure in the MAGA world over Trump's highly touted Stargate project.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

Shares of SoftBank Group Corp. jumped as much as 8.1% after US President Donald Trump announced a multi-billion dollar push by the Japanese company, OpenAI and Oracle Corp. to build AI infrastructure in the US.

Those earnings will hit as big-tech executives try to cozy up to President Trump, and as artificial intelligence ambitions remain one of the main drivers for the industry and the market. Trump hopes to turbocharge both, announcing plans for $500 billion in investments in AI infrastructure last week.

After Donald Trump announced the $500 billion Stargate project, we examine the U.S.-listed beneficiaries which are least expensive to own.