Elon Musk claimed Softbank has less than $10 billion secured, sparking a public rebuttal from OpenAI CEO Sam Altman|Ministry of Communication of Brazil|CC BY 2.0
President Donald Trump announced Tuesday a $500 billion Stargate venture with OpenAI, SoftBank, and Oracle recently aimed at establishing a robust AI infrastructure within the country and creating “over 100,000 American jobs almost immediately.”
But SpaceX and Tesla CEO Elon Musk criticized the deal and the investment amount when he tweeted on Wednesday that the companies don’t have the money.
Musk said Softbank has less than $10 billion secured, sparking a public rebuttal from OpenAI CEO Sam Altman, who labeled the claim false and urged Musk to prioritize national interests.
Despite Musk’s skepticism, Trump’s announcement has boosted investor confidence, with Oracle shares rising 7%.
Microsoft also committed $80 billion to AI infrastructure, though its CEO remained detached from the Stargate project’s specifics.