11:42 AM EDT, 05/12/2025 (MT Newswires) -- The Stargate artificial intelligence project backed by Microsoft ( MSFT ) -partnered OpenAI, Oracle (ORCL) and SoftBank is facing funding delays amid economic uncertainty tied to President Donald Trump's trade policies, Bloomberg reported Monday, citing people familiar with the matter.

SoftBank unveiled the $100 billion plan in January, aiming to scale it to $500 billion. But more than three months later, it has yet to finalize a financing structure or secure commitments from banks or asset managers.

Talks with potential backers such as JPMorgan, Apollo and Brookfield have stalled as tariffs raise costs and concerns grow over AI overcapacity and profitability, according to the report.

Development of the first data center site in Abilene, Texas, led by Oracle, is continuing despite the financing delays. SoftBank has also built a 20- to 30-person team within its Vision Fund to support the effort, Bloomberg said.

None of the partner companies participating in the Stargate project immediately responded to a message from MT Newswires seeking comment on Monday.

(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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