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.

The S&P 500 was down 1.6% in morning trading. Big Tech stocks took some of the heaviest losses, with Nvidia down 11.2%, and they dragged the Nasdaq composite down 2.7%. The Dow Jones Industrial Average, which has less of an emphasis on tech, was holding up better with a dip of 123 points, or 0.3%, as of 9:50 a.m. Eastern time.

The $500 billion Stargate Initiative — led by Trump, OpenAI, SoftBank, and Oracle — is set to revolutionize U.S. AI infrastructure.

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OpenAI, SoftBank Group, Abu Dhabi, and Oracle are among the players in a joint venture meant to pour hundreds of billions more into AI data center funding.

President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

Stargate is a private $500 billion artificial intelligence (AI) infrastructure project that has begun building massive data centers in the United States. Stargate is a joint venture between OpenAI, SoftBank Group,

DeepSeek-R1-Zero, a model trained via large-scale reinforcement learning (RL) without supervised fine-tuning (SFT) as a preliminary step, demonstrates remarkable reasoning capabilities. Through RL, DeepSeek-R1-Zero naturally emerges with numerous powerful and intriguing reasoning behaviors.

DeepSeek, the Chinese artificial-intelligence chatbot, has shocked Silicon Valley with its cost-effective approach—and rattled global tech investors. Shares in Japan’s [SoftBank Group](

The details of Stargate Project involve a collision of money, politics, and egos—with many potential conflicts down the road.

In international markets, chipmaking and electrification companies saw pressure on the fears over the DeepSeek AI service. SoftBank -- the company that said it would fund up to $500 billion in AI infrastructure as well as the main shareholder of microchip designer ARM -- saw its stock dive 8%.

About 875 acres in Abilene, or roughly the size of New York’s Central Park, have been set aside to construct data centers, according to city documents seen