SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

Shares of Japanese chip-related firms were feeling the heat on Monday. Today’s slump comes as Chinese AI startup DeepSeek gained traction with its updated AI model, raising fears about potential challenges to US technological dominance.

In international markets, chipmaking and electrification companies saw pressure on the fears over the DeepSeek AI service. SoftBank -- the company that said it would fund up to $500 billion in AI infrastructure as well as the main shareholder of microchip designer ARM -- saw its stock dive 8%.

Nasdaq futures slumped and technology shares slid in Japan on Monday as surging popularity of a Chinese discount artificial intelligence model wobbled investors' faith in the profitability of AI and the sector's voracious demand for high-tech chips.

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Stargate is a private $500 billion artificial intelligence (AI) infrastructure project that has begun building massive data centers in the United States. Stargate is a joint venture between OpenAI, SoftBank Group,

President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

The details of Stargate Project involve a collision of money, politics, and egos—with many potential conflicts down the road.

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

About 875 acres in Abilene, or roughly the size of New York’s Central Park, have been set aside to construct data centers, according to city documents seen

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.