SoftBank Reports Delays for $500 Billion Stargate AI Project

The $500 billion Stargate project, an artificial intelligence initiative to build a network of data centers across the United States, is experiencing delays. SoftBank Group Corp. announced that the project has yet to raise funds or begin construction, despite an initial promise in January to deploy $100 billion immediately.

Chief Financial Officer Yoshimitsu Goto stated that the company requires more time to evaluate suitable construction sites and reach a consensus among numerous stakeholders, including OpenAI, Oracle Corp., and Abu Dhabi-based MGX. Goto noted that "a lot of parties are involved" and that time is needed to form a consensus and prepare a model case for the initiative.

Beyond coordination complexities, the company attributed the delays to external factors including market volatility, uncertainty regarding U.S. trade policy, and questions surrounding the financial valuations of AI hardware. The project was originally unveiled in January by Masayoshi Son and Sam Altman.