Even so, Mr Ellison remains the world’s fifth-richest man, and Oracle the third-biggest software firm. He has a thing or two to teach fellow tech titans, in particular his friend Elon Musk, about staying power.

Masayoshi Son of SoftBank, Sam Altman of OpenAI and Larry Ellison of Oracle joined Trump for the $500 billion announcement.

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President Donald Trump on Tuesday talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a

President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.

Larry Ellison, co-founder of Oracle Corporation, has an estimated net worth of approximately $200 billion, currently placing him among the third richest person in the world, according to Forbes.

Other potential buyers include the philanthropist Frank Mccourt ’s Project Liberty, which is raising capital to make a bid for TikTok in order to “rearchitect the platform” and protect user data. McCourt is a billionaire who previously owned the Los Angeles Dodgers baseball team. The project is supported by the social psychologist Jonathan Haidt.

Trump called the joint venture - known as Stargate - "a new American company that will invest $500 billion at least in AI infrastructure in the United States," promising that it will create more than 100,000 jobs. He made clear that the initiative is aimed at thwarting China and its AI efforts.

Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.

Elon Musk says OpenAI doesn't have the funds for AI infrastructure project Stargate. The Tesla CEO has a strong case for his argument. The post AI-powered martech news and releases: January 23 appeared first on MarTech.

Oracle founder Larry Ellison said the Stargate project, a joint venture with OpenAI and Softbank, will help to fuel the development of a cancer vaccine.

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