One of the Trump White House's first big announcements aligned itself with the artificial intelligence boom. In a splashy announcement on his second day in office, President Trump told Americans that a new $500 billion project — backed by SoftBank (SFTBY),

The $60 to $65 billion in projected capital expenditures this year is more than double the $27 billion Meta spent in 2023.

Stargate, a high-profile artificial intelligence infrastructure project trumpeted by US President Donald Trump this week, will exclusively serve ChatGPT maker OpenAI, according to people familiar with the matter.