WASHINGTON -- US President Donald Trump on Tuesday announced a $500 billion investment from OpenAI, SoftBank and Oracle in artificial intelligence (AI) infrastructure in the United States.

At a White House event Tuesday afternoon, Trump said the three companies are set to partner on a new AI infrastructure company called Stargate, which will be building "the physical and virtual infrastructure to power the next generation of AI," including data centers across the nation.

The companies will begin with a $100 billion investment, with plans to invest up to $500 billion in the project over the next four years.

The CEOs of all three tech firms joined the president at the White House for the announcement.

In early January, Trump announced that $20 billion from an Emirati developer will be invested to build data centers across the United States.