Tesla CEO Elon Musk challenged the financial backing behind the Stargate AI project, a $500 billion initiative announced by President Trump. Musk claimed SoftBank lacks sufficient funds, contradicting statements from OpenAI CEO Sam Altman and Trump. The project, involving OpenAI, Oracle, and SoftBank, aims to invest in US AI infrastructure.
Tesla and SpaceX CEO Elon Musk said OpenAI, Oracle and Softbank "don't actually have the money" to back up their pledge to invest $500 billion in U.S. artificial intelligence infrastructure.
"SoftBank has well under $10B secured. I have that on good authority," Musk added in a subsequent post. "I realize what is great for the country isn't always what's optimal for your companies, but in your new role i hope you'll mostly put first," he added. "There's no doubt" that Musk's testy relationship with Altman was the catalyst for his posts about Stargate, the person added.
OpenAI CEO Sam Altman, accompanied by U.S. President Donald Trump, Oracle CTO Larry Ellison , and SoftBank CEO Masayoshi Son , speaks during a news conference in the Roosevelt Room of the White House on January 21, 2025 in Washington, DC.As he spoke, Trump was flanked by Altman, Oracle co-founder Larry Ellison and Softbank CEO Masayoshi Son.
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