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.

The project, which will be financially led by SoftBank and operationally by OpenAI, will see an immediate investment of $100 billion. Masayoshi Son will be the chairman of the company.

Donald Trump and three top tech firms announced on Tuesday that they would create a new company called Stargate to grow artificial intelligence infrastructure in the U.S. The President also said the three companies will collaborate and invest $500 billion in the AI infrastructure project.