Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

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

Bannon tore into Musk, revealing another fissure in the MAGA world over Trump's highly touted Stargate project.

Elon Musk had sharp words for a private-sector partnership touted this week by the Trump administration to hasten the development of artificial intelligence infrastructure. “They don’t actually have the money,” Musk said of two of the participants in the $500 billion initiative, OpenAI and SoftBank, on his social media site X.

Shares in artificial intelligence data-center companies fell Thursday—the president’s $500 billion spending drive might raise more questions than answers.

Group, led by Japanese billionaire Masayoshi Son, plans to approach private equity firms Apollo Global Management (NYSE:APO) and Brookfield for funding assistance with the Stargate AI project, Nikkei reported.

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Stargate: Analysts have noted that Microsoft has become less willing to spend even more money financing the computing power OpenAI requires to retain a lead in AI.

Stocks are approaching records in the first couple of days of Trump's presidency, with more pronounced moves in specific corners of the market this week.

Mr. Trump had claimed the A.I. announcement as an early trophy, taking credit for the companies’ decision to spend up to $500 billion building data centers.

Ford Motor Co. and General Motors Co. each donated $1 million and fleets of vehicles to President Donald Trump’s inauguration.  It might not have been enough for a president that craves cash and adoration.