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.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.

Elon Musk had sharp words for a private-sector partnership touted this week by the Trump administration to hasten the development of artificial intelligence infrastructure. “They don’t actually have the money,” Musk said of two of the participants in the $500 billion initiative, OpenAI and SoftBank, on his social media site X.

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

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Those earnings will hit as big-tech executives try to cozy up to President Trump, and as artificial intelligence ambitions remain one of the main drivers for the industry and the market. Trump hopes to turbocharge both, announcing plans for $500 billion in investments in AI infrastructure last week.

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.

Shortly after the announcement of the ambitious $500 billion Project Stargate, Tesla Inc. CEO Elon Musk cast doubt on the project’s funding. Musk claimed that lead investor SoftBank Group has "well under $10B secured," contradicting the project’s grand unveiling at a White House briefing.

Silicon Valley loudly criticized President Donald Trump when he quit the climate accord in his first term. This time? Crickets.

The S&P 500 (^GSPC) just capped its best first four trading days under a new president since Ronald Reagan's first week in 1985. The week ahead will bring investors a deluge of news that will put that rally to the test.

The project is what the second Trump administration wishes to accomplish but own of the members of the administration seemed not so happy with the announcement.