OpenAI's Stargate project lacks a fully developed plan and hasn't secured funding yet, according to a report from the Financial Times.

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

Trump announced a $500 billion joint venture between OpenAI, Softbank, MGX and Oracle to build new datacenters to power the next wave of AI.