Latest news with #EliotBrown
Business Insider
22-07-2025
- Business
- Business Insider
SoftBank and OpenAI's $500B AI project struggles to launch, WSJ reports
The $500B 'Stargate' artificial-intelligence project from SoftBank (SFTBY) and OpenAI, which was unveiled at the White House, has struggled to get off the ground and has sharply scaled back its near-term plans, according to a report by Eliot Brown and Berber Jin of the Wall Street Journal. Six months after the announcement, the venture has yet to complete a single deal for a data center, with the new, more modest goal being to build one small data center by year-end, likely in Ohio. The two companies have reportedly been at odds over crucial terms of the partnership, including where to build the sites. Meanwhile, OpenAI has moved forward without SoftBank, striking a data-center deal with Oracle (ORCL) that will see OpenAI pay more than $30B a year, as well as a smaller deal with CoreWeave (CRWV). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
Business Insider
22-07-2025
- Business
- Business Insider
SoftBank and OpenAl's $500B AI project struggles to get off ground, WSJ reports
The $500B 'Stargate' artificial-intelligence project from SoftBank (SFTBY) and OpenAI, which was unveiled at the White House, has struggled to get off the ground and has sharply scaled back its near-term plans, according to a report by Eliot Brown and Berber Jin of the Wall Street Journal. Six months after the announcement, the venture has yet to complete a single deal for a data center, with the new, more modest goal being to build one small data center by year-end, likely in Ohio. The two companies have reportedly been at odds over crucial terms of the partnership, including where to build the sites. Meanwhile, OpenAI has moved forward without SoftBank, striking a data-center deal with Oracle (ORCL) that will see OpenAI pay more than $30B a year, as well as a smaller deal with CoreWeave (CRWV). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
