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

President Donald Trump announced an A.I. initiative called Stargate. During a press conference at the White House attended by SoftBank (SFTBF) CEO Masayoshi Son and Oracle founder Larry Ellison, the returning President told reporters the initiative will invest $500 billion—equivalent to almost 2 percent of the annual U.

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.