President Trump and the CEOs of OpenAI, Softbank and Oracle are expected to announce a new $500 billion AI initiative called “Stargate.” CBS first reported.

Sources tell CBS that the plan is to start with a $100 billion commitment and a Stargate data center in Texas, then build up to $500 billion over the next four years by expanding data centers in states others.

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Sam Altman of OpenAI, CTO of Oracle Larry Ellisonand SoftBank CEO Masayoshi Son are expected at the White House on Tuesday afternoon to make the announcement.

Oracle is one of the largest data centers operators in the US., for CNN.

Sam Altman has been vocal about the need to build more AI infrastructure and data centers in America.

“Infrastructure in the United States is extremely important, AI is a little bit different than other types of software in that it requires massive amounts of infrastructure, power, computer chips, data centers,” Altman explained in an interview last month with. Fox News Sunday. “We need to build that here and we need to be able to have the best AI infrastructure in the world to be able to lead with technology and skills.”

This is a developing story and will be updated.

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