Fly Finance

Announcing The Stargate Project The Stargate Project is a new company which intends to invest $500 billion over the next four years building new AI infrastructure for OpenAI in the United States. We will begin deploying $100 billion immediately. This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world. This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies. The initial equity funders in Stargate are SoftBank, OpenAI, Oracle, and MGX. SoftBank and OpenAI are the lead partners for Stargate, with SoftBank having financial responsibility and OpenAI having operational responsibility. Masayoshi Son will be the chairman. Arm, Microsoft, NVIDIA, Oracle, and OpenAI are the key initial technology partners. The buildout is currently underway, starting in Texas, and we are evaluating potential sites across the country for more campuses as we finalize definitive agreements. As part of Stargate, Oracle, NVIDIA, and OpenAI will closely collaborate to build and operate this computing system. This builds on a deep collaboration between OpenAI and NVIDIA going back to 2016 and a newer partnership between OpenAI and Oracle. This also builds on the existing OpenAI partnership with Microsoft. OpenAI will continue to increase its consumption of Azure as OpenAI continues its work with Microsoft with this additional compute to train leading models and deliver great products and services. All of us look forward to continuing to build and develop AI—and in particular AGI—for the benefit of all of humanity. We believe that this new step is critical on the path, and will enable creative people to figure out how to use AI to elevate humanity.

I was sending money to my son in Australia for his monthly expenses. The banking app was taking a lot of time at every step. Multiple drop downs on every page and submitting reason for sending money, source of money. Sometimes I clicked on submit and it took 3-4 seconds to move to the next page. By the time I finished the transfer, I was annoyed and exhausted because of the app being slow and resubmitting the same info everytime. But after a few deep breaths, I started thinking clearly. I was sitting in US, sending money to my son and it just took me 3 minutes (believe me 180 seconds seems like a lifetime on a banking app). As a kid, I used to stand in queues for hours to pay electricity bills, walked to bank in summers to withdraw 500 rupees and now I am complaining about this! International money transfer might have taken a couple of days back then. Yes, the online process can improve further, but I believe we are also getting a bit too impatient. What do you think?