03:31 PM EST, 01/22/2025 (MT Newswires) -- Elon Musk is casting doubt on the recently announced Stargate project to build artificial intelligence data centers and other infrastructure in the US, arguing that some of the participants in the joint venture, led by Oracle (ORCL), Microsoft-backed (MSFT) OpenAI and Softbank may lack the funding.

"They don't actually have the money," the xAI founder wrote on his X handle. He also challenged Softbank's capital resources, claiming the Japanese bank has less than $10 billion secured. OpenAI's Sam Altman rejected Musk's claims in another X post.

US President Donald Trump unveiled the Stargate project at a White House event on Tuesday. The partner firms are providing a combined $100 billion for the initial round and have pledged $500 billion in total funding over the next four years. Trump has not discuss the government's share in the project.

Oracle, OpenAI and Softbank did not immediately respond to a request for comment from MT Newswires Wednesday afternoon.

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