U.S. President Donald Trump on Thursday dismissed criticism from close ally Elon Musk about a $500 billion artificial intelligence project that Trump announced with great fanfare at the White House earlier this week.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Elon Musk, CEO of Tesla and SpaceX, has expressed doubts about the financial viability of the USD 500 billion Stargate AI Project, a collaboration between OpenAI and SoftBank Group. Musk questioned SoftBank's ability to fund the massive initiative,

Elon Musk has cast doubt on if there is enough funding to follow through on a massive $500 billion artificial intelligence infrastructure project announced by Trump on Tuesday.

President Trump announced on Tuesday a massive AI infrastructure project involving OpenAI, Oracle (NYSE:ORCL), and SoftBank (TYO:9984), with an investment plan of up to $500 billion. This project, named Stargate,

OpenAI and Microsoft have hit back at Elon Musk’s criticism of Stargate, the new $500bn artificial intelligence infrastructure project hailed by Donald Trump as a “resounding declaration of confidence in America’s potential under a new president”.

Trump lauded the up to $500 billion partnership with OpenAI, Oracle, and SoftBank to build out data centers and electricity generation in Texas to support U.S. AI development.