SAN FRANCISCO (KRON) -- President Donald Trump stood with one of San Francisco's top tech tycoons inside the White House on Tuesday to announce a $500 billion artificial intelligence project, dubbed "Stargate." Trump held a press conference alongside Sam Altman of OpenAI and Larry Ellison of Oracle to reveal to hefty investments for creating infrastructure to power artificial intelligence, including developing data centers and electricity plants. "This will be the most important project of this era," declared Altman, who founded his AI company in San Francisco. Stargate will create more than 100,000 American jobs through a partnership with OpenAI, Oracle and SoftBank, the president said. Bay Area tech CEOs get front-row seats at Trump inauguration Trump described Altman as "by far the leading expert, based on everything I read." The president said Stargate involves "big money and high quality people," and the project represents a "declaration of confidence in America’s potential." Guests including Mark Zuckerberg, Jeff Bezos, Sundar Pichai and Elon Musk, arrive before the 60th Presidential Inauguration in the Rotunda of the U.S. Capitol in Washington, Monday, Jan. 20, 2025. (AP Photo/Julia Demaree Nikhinson, Pool) Tuesday's Stargate news conference was held just 24 hours after Silicon Valley tech moguls had front-row seats for Trump’s inauguration. Tesla and SpaceX CEO Elon Musk, Meta CEO Mark Zuckerberg, Amazon founder Jeff Bezos, and Google CEO Sundar Pichai sat front and center for the ceremony.