financetom
Business
financetom
/
Business
/
OpenAI, Oracle, SoftBank plan five new AI data centers for $500 billion Stargate project
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
OpenAI, Oracle, SoftBank plan five new AI data centers for $500 billion Stargate project
Sep 23, 2025 2:21 PM

ABILENE, Texas, Sept 23 (Reuters) - OpenAI, Oracle

and SoftBank on Tuesday announced plans for

five new artificial intelligence data centers in the United

States to build out their ambitious Stargate project.

U.S. President Donald Trump in January hosted top tech CEOs to

launch Stargate, a private-sector initiative that plans to spend

up to $500 billion to build AI infrastructure.

AI is a priority for Trump and tech companies that are

pouring billions into building the computers that are necessary

to power the technology.

ChatGPT-maker OpenAI said on Tuesday it will open three new

sites with Oracle in Shackelford County, Texas, Dona Ana County,

New Mexico and an undisclosed site in the Midwest. Two more data

center sites will be built in Lordstown, Ohio and Milam County,

Texas by OpenAI, Japan's SoftBank and a SoftBank affiliate.

The new sites, the Oracle-OpenAI site expansion in Abilene,

Texas, and the ongoing projects with CoreWeave ( CRWV ) will

bring Stargate's total data center capacity to nearly 7

gigawatts and more than $400 billion in investment over the next

three years, OpenAI said.

The $500 billion project was intended to generate 10

gigawatts in total data center capacity.

"AI can only fulfill its promise if we build the compute to

power it," OpenAI CEO Sam Altman said in a statement.

The Tuesday's announcement, expected to create 25,000 onsite

jobs, follows Nvidia ( NVDA ) saying on Monday that it will

invest up to $100 billion in OpenAI and supply data center

chips.

OpenAI and partners plan to use debt financing to lease

chips for the Stargate project, people familiar with the matter

said.

OpenAI and its backer Microsoft ( MSFT ) are among the tech

giants pouring billions into data centers to power generative AI

services such as ChatGPT and Copilot.

AI's role in sensitive sectors such as defense and China's

push to catch up have made the nascent technology a top priority

for Trump.

(Reporting by Nilutpal Timsina and Angela Christy in Bengaluru

and Deepa Seetharaman in Abilene; Editing by Shinjini Ganguli)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Belden's Fiscal Q2 Adjusted Earnings, Revenue Rise; Issues Fiscal Q3 Outlook
Belden's Fiscal Q2 Adjusted Earnings, Revenue Rise; Issues Fiscal Q3 Outlook
Jul 31, 2025
09:17 AM EDT, 07/31/2025 (MT Newswires) -- Belden (BDC) reported fiscal Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.51 a year earlier. Analysts polled by FactSet expected $1.76. Revenue for the quarter ended June 29 was $672 million, up from $604.3 million a year earlier. Analysts surveyed by FactSet expected $657.9 million. The company said it...
Vontier's Fiscal Q2 Adjusted Net Earnings, Revenue Rise; Fiscal 2025 Guidance Revised
Vontier's Fiscal Q2 Adjusted Net Earnings, Revenue Rise; Fiscal 2025 Guidance Revised
Jul 31, 2025
09:17 AM EDT, 07/31/2025 (MT Newswires) -- Vontier ( VNT ) reported fiscal Q2 adjusted net earnings Thursday of $0.79 per diluted share, up from $0.63 a year earlier. Analysts polled by FactSet expected $0.72. Revenue for the quarter ended June 27 was $773.5 million, up from $696.4 million a year earlier. Analysts surveyed by FactSet expected $734.5 million. The...
Sector Update: Consumer Stocks Mixed Premarket Thursday
Sector Update: Consumer Stocks Mixed Premarket Thursday
Jul 31, 2025
09:17 AM EDT, 07/31/2025 (MT Newswires) -- Consumer stocks were mixed premarket Thursday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was down 0.6% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was 0.6% higher recently. Anheuser-Busch InBev ( BUD ) shares were more than 10% lower after the company reported a decline in...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved