SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

Bengaluru – SoftBank Group and OpenAI each plan to commit US$19 billion (S$25.7 billion) of capital to Stargate, the mega US AI endeavor President Donald Trump unveiled this week, the Information reported.

The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.