President Donald Trump on January 21 announced the formation of Stargate, a joint venture between OpenAI, SoftBank and Oracle, which aims to create at least $100 billion in computing infrastructure to power artificial intelligence.

According to the New York Times, Trump has promised to accelerate the production of American-made AI to compete against China for global leadership in the technology, and on January 20, his first day in office, he rolled back an executive order from former President Joe Biden that imposed standards on safety and other requirements for government use of AI.

Stargate adds to tech companies’ already significant investments in U.S. data centers, and could eventually invest as much as $500 billion over four years. The three companies plan to contribute funds to the venture, which will be open to other investors and start with 10 data centers already under construction in Texas.

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“This monumental undertaking is a resounding declaration of confidence in America’s potential,” Trump said from the White House’s Roosevelt Room, joined by OpenAI’s chief executive, Sam Altman; SoftBank’s chief, Masayoshi Son; and Oracle’s founder, Larry Ellison. “We’re going to make it as easy as it can be.”