President Donald Trump announced an A.I. initiative called Stargate. During a press conference at the White House attended by SoftBank (SFTBF) CEO Masayoshi Son and Oracle founder Larry Ellison, the returning President told reporters the initiative will invest $500 billion—equivalent to almost 2 percent of the annual U.

Among the biggest market drivers over the past couple of years have been the developments in the artificial intelligence (AI) industry. In simplest terms, AI's advanced algorithms

OpenAI's Stargate project lacks a fully developed plan and hasn't secured funding yet, according to a report from the Financial Times.

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Stargate is little more than an extension of Sam Altman's powerful AI company, anonymous sources told the Financial Times.