usk, known as both Donald Trump’s advisor and the richest man in the world, stirred controversy by criticizing a major AI project called Stargate. This project, which Trump recently announced with great enthusiasm, is supposed to revolutionize AI infrastructure in the U.S. However, Musk claimed that the billionaires supporting the project “don’t actually have the money” to fund it.
On Tuesday, President Trump hosted a big event at the White House to promote Stargate. He was joined by major business leaders, including Masayoshi Son of SoftBank, Sam Altman of OpenAI, and Larry Ellison of Oracle. These executives praised Trump’s leadership, saying he made the project possible.
However, it’s worth noting that Stargate actually began under President Joe Biden in 2024. Construction on a huge facility in Texas to support the project is already underway.
The White House announced that Stargate will focus on building new data centers and energy infrastructure to power AI development. The initial investment is $100 billion, but over time, it could grow to $500 billion.
Trump called it “a resounding declaration of confidence in America’s potential,” while Sam Altman of OpenAI said it’s “the most important project of this era.” Larry Ellison of Oracle highlighted its medical potential, mentioning how it could simplify digital health records and even help create personalized cancer vaccines.
OpenAI shared more details about the project on social media. According to their statement, Stargate plans to spend $500 billion over the next four years to build advanced AI infrastructure across the United States. This will create hundreds of thousands of jobs, support America’s economy, and help maintain the country’s leadership in AI. The initiative is also meant to enhance national security and re-industrialize America.
The key investors behind Stargate include SoftBank, OpenAI, Oracle, and MGX, with SoftBank managing finances and OpenAI handling operations. Major tech companies like Microsoft, NVIDIA, and Oracle are also technology partners. Construction has already started in Texas, and more locations are being considered.
Despite the grand announcement, Elon Musk expressed serious doubts. He responded to OpenAI’s post by saying, “They don’t actually have the money,” and claimed that SoftBank only has “well under $10B secured.” This raised questions about whether the funding for Stargate is fully in place.
Musk’s comments highlight a big difference between the optimistic tone of Trump’s event and the actual financial situation of the project. While Trump and his team celebrated Stargate as a done deal, Musk’s remarks suggest there’s still a long way to go before it becomes a reality.
