04:21 PM EST, 01/21/2025 (MT Newswires) -- Oracle (ORCL) is launching the Stargate joint venture with Japan's SoftBank and US-based OpenAI to build infrastructure supporting artificial intelligence applications, with the project also attracting funding from the federal government, multiple media reports said on Tuesday.

The three companies are expected to initially commit a combined $100 billion, with plans to invest up to $500 billion in the joint venture over the next four years, unnamed sources told CBS News, which first reported about the project.

Stargate will start with a data center in Texas before expanding to other states, CBS reported.

The new Trump administration is expected to disclose billions of dollars of investment in Stargate and set to announce the project later Tuesday afternoon with top officials from the companies in attendance, The Financial Times reported, citing unnamed sources. Microsoft ( MSFT ) also is expecting to join the project as a technology partner, one of the sources told The Financial Times.

The companies did not immediately respond to messages from MT Newswires seeking comment on Tuesday.

Shares of Oracle were up 1.1% in recent after-hours activity.

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