08:11 AM EDT, 08/08/2025 (MT Newswires) -- SoftBank Group said that its $500 billion AI venture Stargate with partner Microsoft ( MSFT )-backed (MSFT) OpenAI has not progressed as quickly as originally expected, multiple media outlets reported, citing an executive of the Japanese firm.

SoftBank is trying to achieve alignment in plans with its partners, including Oracle (ORCL) and MGX, the reports said, citing company CFO Yoshimitsu Goto in an earnings briefing.

SoftBank expects to begin "concrete" negotiations for its first Stargate datacenter site soon, Bloomberg reported.

"A lot of parties are involved. Time is needed to form a consensus," Bloomberg quoted Goto as saying.

SoftBank is also asking Taiwan Semiconductor Manufacturing ( TSM ) and others to participate in a $1 trillion AI manufacturing hub project in Arizona, according to the reports.

SoftBank and OpenAI did not immediately reply to requests for comment from MT Newswires.