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Elon Musk has taken aim at the new Stargate Project, claiming the company, and it's equity founders, "don't actually have the money."
Project Stargate was announced by President Trump yesterday (Jan 21) who praised the deal claiming it would create 100,000 new jobs and bring in billions of dollars of foreign investment.
According to equity founders Sam Altman (OpenAI), Larry Ellison, and Masayoshi Son, who represent SoftBank, OpenAI, Oracle, and MGX, the Stargate Project plans to invest $500 billion dollars in new AI infrastructure over the next four years.
In a post on 𝕏, OpenAI announced The Stargate Project, outlining the details of the project and re-stating their plain to invest $500 billion dollars over the next four years. They also said that the tech companies investing in this project would be "deploying $100 billion immediately."
In a comment to OpenAI, Musk claimed that the investors did not actually have the money. "They don’t actually have the money," he said. "SoftBank has well under $10B secured. I have that on good authority."
SoftBank has well under $10B secured. I have that on good authority.
— Elon Musk (@elonmusk) January 22, 2025
Softbank is a Japanese multinational investment holding company and the lead investor in the Stargate Project. Last month, Softbank CEO, Masayoshi Son, met with Trump to congratulate him on his victory and discuss a potential $100 billion dollar investment. Now he has returned with Sam Altman (OpenAI/Microsoft) and Larry Ellison (Oracle), pledging $5oo billion.
Musk's recent comments have cast doubt on this deal and serve to undermine Trump, who, just yesterday, praised the deal. It's unclear if Musk is serious or simply trying to antagonize Sam Altman, who he has publicly accused of being "untrustworthy" and "manipulative." Musk was an early founder of OpenAI but departed in 2018 because he disagreed with OpenAI's direction.
The equity founders of the Stargate Project have not yet responded to Musk's claims.
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