Elon Musk doubts Trump’s $500B AI project funding, claims no funds secured

Shortly after President Donald Trump announced a massive $500 billion AI infrastructure initiative, Elon Musk quickly cast doubt on the financial backing.

“They don’t actually have the money,” Musk posted on X. “SoftBank has well under $10B secured. I have that on good authority.”

Trump unveiled Stargate, an AI-focused company, with backing from SoftBank, OpenAI, and Oracle. The plan starts with a $100 billion investment, aiming for a $500 billion commitment in the coming years. OpenAI CEO Sam Altman, Oracle’s Larry Ellison, and SoftBank’s Masayoshi Son joined Trump for the announcement.

Musk’s comments are particularly notable given his ongoing legal battle with OpenAI. He has accused the company of abandoning its nonprofit mission by reserving some of its most advanced technology for private customers. Altman responded to Musk’s claims on X, challenging him directly: “Wrong, as you surely know. Want to visit the first site already underway?”

White House Press Secretary Karoline Leavitt defended the project, urging Americans to trust Trump and the CEOs involved.

A source familiar with the Stargate initiative countered Musk’s claims, stating that SoftBank has $24.3 billion in cash and can take on more debt. Microsoft’s Satya Nadella also confirmed his company’s $80 billion commitment to the project.