SoftBank Stargate Venture With OpenAI Snags on Tariff Fears
Masayoshi Son and Sam Altman in Tokyo on Feb. 3.
Photographer: Kosuke Okahara/BloombergSoftBank Group Corp.’s plans to invest $100 billion in artificial intelligence infrastructure in the US have slowed, with economic risks stemming from Washington’s tariffs holding up financing talks.
SoftBank founder Masayoshi Son and OpenAI co-founder Sam Altman unveiled the Stargate project in January with promises to begin deploying $100 billion “immediately” and raise that to around $500 billion over time. But more than three months later, SoftBank has yet to develop a project financing template or begin detailed discussions with banks, private equity investors and asset managers.