Trump to announce up to $500 billion in private sector AI infrastructure investment

President Trump is set to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the United States, CBS News has learned. 

OpenAI, Softbank and Oracle are planning a joint venture called Stargate, according to multiple people familiar with the deal. 

SoftBank CEO Masayoshi Son is expected at the White House Tuesday afternoon, along with Sam Altman of OpenAI and Larry Ellison of Oracle.

Executives from the companies are expected to say they plan to commit $100 billion initially and pour up to $500 billion into Stargate over the next four years. Other details of the new partnership were not immediately available. 

Spokespeople for SoftBank and OpenAI declined to comment.

Stargate will start with a data center project in Texas, sources said, and eventually expand to other states. Other investors are expected to join the venture, but it was not immediately clear which ones.