02:03 PM EDT, 07/22/2025 (MT Newswires) -- (Updates with statement from OpenAI and SoftBank in the fourth and fifth paragraphs.)

Microsoft ( MSFT )-backed (MSFT) OpenAI and SoftBank have been in disagreement over terms for their $500 billion Stargate project to boost AI development in the US, the Wall Street Journal reported Tuesday, citing sources familiar with the matter.

The venture has only set a modest goal of building a small data center by the end of the year, a low-scale project compared with the pledge it announced in January of investing $100 billion "immediately," according to the report.

OpenAI has gone on to sign agreements for data centers without SoftBank, the report said.

"Stargate's $500 billion commitment to build 10 gigawatt of new compute capacity across the US is no longer a vision--it's happening," SoftBank and OpenAI said in a joint statement to MT Newswires.

"We're moving with urgency on site assessments and reimagining how data centers are designed to power advanced AI and make its benefits widely accessible," the companies said.

(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.)

Price: 506.66, Change: -3.41, Percent Change: -0.67