U.S. President Donald Trump on Thursday dismissed criticism from close ally Elon Musk about a $500 billion artificial intelligence project that Trump announced with great fanfare at the White House earlier this week.

Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

Bannon tore into Musk, revealing another fissure in the MAGA world over Trump's highly touted Stargate project.

MU Price Action: Micron Technology shares closed Thursday down 4.02% at $104.84, according to Benzinga Pro.

The rapid development of AI systems over the past two years has stretched American infrastructure, with data centres emerging as a particular bottleneck. Cutting-edge chatbots such as OpenAI’s ChatGPT, Google’s Gemini and Anthropic’s Claude require enormous amounts of data and computing power to train and run.

Trump announced a $500 billion project called Stargate backed by SoftBank, Oracle, and OpenAI. The details of this project have

Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new data center and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.

Meanwhile, Wedbush analysts have raised their price target on Tesla Inc (NASDAQ: TSLA) shares to $550, the highest on Wall Street, from $515. The upgrade reflects “growing confidence” in Tesla’s delivery demand outlook for 2025 and the anticipated acceleration of autonomous and AI initiatives under the Trump Administration.

OpenAI and SoftBank's "Stargate" took the world by storm after announcing the $500 billion project, which they are collaborating with Oracle and MGX. While making the announcement, the ChatGPT maker indicated that up to $100 billion had already been injected into the project to facilitate the construction of data centers across the United States to bolster sophisticated AI advances.

Altman and Musk were OpenAI’s founding co-chairs in 2015, but their relationship has devolved into name-calling and lawsuits.

The world’s richest man has been passed up for his arch-nemesis in Trump’s flagship tech project. How the tables turn