Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.

Elon Musk claimed overnight Tuesday that tech giants OpenAI, Oracle and Softbank don’t have enough money to fulfill their high-profile pledge to invest $500 billion in U.S. AI infrastructure.

The billionaire wrote on social media that the companies behind the project don’t have enough money to follow through on their pledges.

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.

The Stargate project has big implications for U.S. AI leadership, but also for who's winning the new president's ear.

Oracle chairman and chief technology officer Larry Ellison joins President Trump to discuss the U.S. Stargate investment.