I. Overview of the Event

On January 21, 2025, Trump invited Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of OpenAI, and Larry Ellison, co-founder of Oracle, to the White House on his first full day in office. During the subsequent press conference, Trump announced a new AI infrastructure project named Stargate, which will be implemented by a new company jointly established by SoftBank, OpenAI, and Oracle. Trump stated that this is the largest AI infrastructure project in history, with an initial investment of 100billionandatargetofincreasingtoover500 billion.

II. Project Details

1. Investment Scale: The initial investment for the Stargate project is 100billion,withanexpectedtotalinvestmentofover500 billion. These funds will be used to construct data centers and physical campuses.

2. Participants: SoftBank, OpenAI, and Oracle are the main partners in the Stargate project. Among them, SoftBank will bear the financial responsibility, with Masayoshi Son serving as the chairman; OpenAI will handle operations; and Oracle will participate as a technical partner. Additionally, Microsoft and NVIDIA are also expected to join.

3. Job Creation: Trump indicated that the project is expected to create 100,000 jobs in the United States.

III. Funding Sources and Doubts

1. Funding Sources: It is currently unclear how much funding SoftBank, OpenAI, and Oracle will inject into the Stargate project, respectively. Since OpenAI's current valuation is $150 billion, it is evident that it cannot support Trump's such a large-scale plan, leading the market to widely speculate that SoftBank will bear the primary financial responsibility.

2. Market Doubts: If Trump relies on government funds to support the Stargate project, he will need Congress to approve a budget expenditure of several hundred billion dollars, which contradicts his stance of advocating for government spending cuts. Therefore, the market has raised doubts about the funding sources.

IV. Policy Background and Shift

1. Policy Background: Over the past few months, AI tech giants have continuously warned the government that more data centers and the necessary chips, power, and water resources to operate them will be required in the coming years.

2. Policy Shift: Soon after Trump was sworn in, he canceled the AI guardrails imposed by Biden and signed a series of measures to promote the development of energy in the United States to meet the surge in power demand for data centers. This marks a significant shift in the Trump administration's AI policy.

V. Market Reaction and Impact

1. Stock Price Increase: Following the announcement of the Stargate project, Oracle's stock price increased by approximately 7%, Nvidia by 2.3%, and Arm by 4.1%.

2. AI Market Rebound: As the Meme sector gradually cools down and the Stargate project unfolds, market funds have gradually returned to AI projects. According to SoSoValue data, the AI Agents sector saw a 10.47% increase within 24 hours.

VI. Conclusion

Trump's announcement of the $500 billion AI infrastructure plan, Stargate, undoubtedly establishes AI as the mainstay of the market this year. Despite market doubts about funding sources, the Trump administration's policy shift and the participation of major tech giants have made the project a focus of attention. With the return of market funds and the continuous development of AI technology, the Stargate project is expected to create significant impacts for the United State

I. Overview of the Event

On January 21, 2025, Trump invited Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of OpenAI, and Larry Ellison, co-founder of Oracle, to the White House on his first full day in office. During the subsequent press conference, Trump announced a new AI infrastructure project named Stargate, which will be implemented by a new company jointly established by SoftBank, OpenAI, and Oracle. Trump stated that this is the largest AI infrastructure project in history, with an initial investment of 100billionandatargetofincreasingtoover500 billion.

II. Project Details

1. Investment Scale: The initial investment for the Stargate project is 100billion,withanexpectedtotalinvestmentofover500 billion. These funds will be used to construct data centers and physical campuses.

2. Participants: SoftBank, OpenAI, and Oracle are the main partners in the Stargate project. Among them, SoftBank will bear the financial responsibility, with Masayoshi Son serving as the chairman; OpenAI will handle operations; and Oracle will participate as a technical partner. Additionally, Microsoft and NVIDIA are also expected to join.

3. Job Creation: Trump indicated that the project is expected to create 100,000 jobs in the United States.

III. Funding Sources and Doubts

1. Funding Sources: It is currently unclear how much funding SoftBank, OpenAI, and Oracle will inject into the Stargate project, respectively. Since OpenAI's current valuation is $150 billion, it is evident that it cannot support Trump's such a large-scale plan, leading the market to widely speculate that SoftBank will bear the primary financial responsibility.

2. Market Doubts: If Trump relies on government funds to support the Stargate project, he will need Congress to approve a budget expenditure of several hundred billion dollars, which contradicts his stance of advocating for government spending cuts. Therefore, the market has raised doubts about the funding sources.

IV. Policy Background and Shift

1. Policy Background: Over the past few months, AI tech giants have continuously warned the government that more data centers and the necessary chips, power, and water resources to operate them will be required in the coming years.

2. Policy Shift: Soon after Trump was sworn in, he canceled the AI guardrails imposed by Biden and signed a series of measures to promote the development of energy in the United States to meet the surge in power demand for data centers. This marks a significant shift in the Trump administration's AI policy.

V. Market Reaction and Impact

1. Stock Price Increase: Following the announcement of the Stargate project, Oracle's stock price increased by approximately 7%, Nvidia by 2.3%, and Arm by 4.1%.

2. AI Market Rebound: As the Meme sector gradually cools down and the Stargate project unfolds, market funds have gradually returned to AI projects. According to SoSoValue data, the AI Agents sector saw a 10.47% increase within 24 hours.

VI. Conclusion

Trump's announcement of the $500 billion AI infrastructure plan, Stargate, undoubtedly establishes AI as the mainstay of the market this year. Despite market doubts about funding sources, the Trump administration's policy shift and the participation of major tech giants have made the project a focus of attention. With the return of market funds and the continuous development of AI technology, the Stargate project is expected to create significant impacts for the United State