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Stargate

OpenAI Teams Up With Oracle and SoftBank to Build 5 New Stargate Data Centers
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OpenAI Teams Up With Oracle and SoftBank to Build 5 New Stargate Data Centers

by admin September 23, 2025


OpenAI is planning to build five new data centers in the United States as part of the Stargate initiative, the company announced on Tuesday. The sites, which are being developed in partnership with Oracle and SoftBank, bring Stargate’s current planned capacity to nearly 7 gigawatts—roughly the same amount of power as seven large-scale nuclear reactors.

“AI is different from the internet in a lot of ways, but one of them is just how much infrastructure it takes,” OpenAI CEO Sam Altman said during a press briefing in Abilene, Texas, on Tuesday. He argued that the US “cannot fall behind on this” and the “innovative spirit” of Texas provides a model for how to scale “bigger, faster, cheaper, better.”

Three of the new sites, in Shackelford County, Texas; Doña Ana County, New Mexico; and a yet-to-be-disclosed location in the Midwest, are being developed in partnership with Oracle. The move follows an agreement Oracle and OpenAI announced in July to develop up to 4.5 gigawatts of US data center capacity on top of what the two companies are already building at the first Stargate facility in Abilene.

OpenAI claims the new data centers, along with a planned 600 megawatt expansion of the Abilene site, will create more than 25,000 onsite jobs, though the number of workers required to build data centers typically dwarfs the amount needed to maintain them afterwards.

The two remaining sites are being helmed by OpenAI and SB Energy, a SoftBank subsidiary that develops solar and battery projects. These are located in Lordstown, Ohio, and Milam County, Texas.

Stargate is one of several major US technology infrastructure projects that have been announced since President Donald Trump took office at the start of the year. OpenAI said in January that the $500 billion, 10 gigawatt commitment between the ChatGPT maker, SoftBank, Oracle, and MGX would “secure American leadership in AI” and “create hundreds of thousands of American jobs.”

Trump touted the mammoth initiative just two days after he returned to the White House, promising that it would accelerate American progress in artificial intelligence and help the US compete against China and other nations. In July, Trump announced an AI action plan that called for speedy infrastructure development and limited red tape as the US tries to beat other countries in the quest for advanced AI. “We believe we’re in an AI race,” White House AI czar David Sacks said at the time. “We want the United States to win that race.”

OpenAI initially framed Stargate as a “new company” that would be chaired by Softbank CEO Masayoshi Son. Now, however, executives close to the project say it’s an umbrella brand name used to refer to all of OpenAI’s data center projects—except those developed in partnership with Microsoft.

The flagship site in Abilene is primarily owned and operated by Oracle, with OpenAI acting as the primary tenant, according to executives close to the project. The buildout, which is being managed by the data center startup Crusoe, is on track to be completed by mid-2026, sources close to the project say. It is already running on Oracle Cloud Infrastructure and supporting OpenAI training and inference workloads, those sources add.



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September 23, 2025 0 comments
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LayerZero wins $110M Stargate acquisition deal
NFT Gaming

LayerZero wins $110M Stargate acquisition deal

by admin August 25, 2025



Blockchain messaging protocol LayerZero has secured the $110 million acquisition of cross-chain platform Stargate after a heated, last-minute bidding war.

Summary

  • LayerZero won Stargate’s $110M acquisition with 95% DAO approval.
  • Stargate stakers to receive 50% of revenue; rest goes to ZRO buybacks.
  • Community chose LayerZero over rival bids from Wormhole, Axelar, and Across.

With one of the highest participation rates in its history, the Stargate (STG) DAO approved the acquisition on with a 95% majority vote. Over 7.5 million veSTG tokens were cast by more than 15,000 addresses. As part of the agreement, the DAO was shut down, and governance will be moved to the LayerZero (ZRO) ecosystem.

The Stargate DAO has approved our acquisition of Stargate (STG).

We’ve spent four years building the rails to reinvent how value moves. Today, we accelerate our network effects.

LayerZero is better money technology.

Stargate is the interface for value transfer. pic.twitter.com/U1QI1308dV

— LayerZero (@LayerZero_Core) August 24, 2025

Stargate to shift to LayerZero control

Under the final agreement, Stargate stakers will receive 50% of protocol revenue for the next six months. The remaining 50% will be allocated toward LayerZero’s ZRO token buybacks, which will strengthen token value. Additionally, holders of STG tokens will be able to convert them into ZRO at a fixed exchange rate of 1 STG = 0.08634 ZRO, starting Monday, Aug. 25.

This is a structural change that aligns Stargate’s cross-chain liquidity infrastructure with LayerZero’s wider interoperability strategy as governance and operations move under the LayerZero umbrella.

Rival bids fail to sway Stargate vote

Gaining approval wasn’t an easy process. Because it terminated Stargate’s staking program and allegedly undervalued its strong revenue generation, LayerZero’s original proposal drew criticism from the community. Rivals were able to take advantage of this discontent, which led to a rare multi-protocol bidding war in decentralized finance.

Wormhole (W), Axelar (AXL), and Across Protocol joined the battle immediately, with Wormhole even offering an all-cash bid of $120 million with accelerated payouts for holders of Stargate tokens. Despite the higher offer, Stargate’s community ultimately stuck with LayerZero, emphasizing strategic alignment over short-term gains.

Before being spun out as a DAO in 2022, LayerZero Labs initially incubated Stargate in 2021. LayerZero’s reacquisition of Stargate solidifies its ecosystem and improves its standing in the cross-chain messaging and liquidity space in a time when interoperability is still a major DeFi bottleneck,

Now that the acquisition is complete, focus is on how LayerZero will incorporate Stargate’s infrastructure and whether the move will provide long-term benefits to both ZRO holders and Stargate’s loyal supporters.





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August 25, 2025 0 comments
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Stargate Votes Through LayerZero’s $110M Acquisition
Crypto Trends

Stargate Votes Through LayerZero’s $110M Acquisition

by admin August 25, 2025



Blockchain messaging protocol LayerZero has won the bid to acquire crypto protocol Stargate after a shaky first offer and a late four-way bidding war.

Stargate’s community voted on Sunday with a 95% majority to greenlight the LayerZero Foundation’s $110 million acquisition proposal, which it amended after holders of the Stargate (STG) token said the original deal was unfair.

Three of LayerZero’s rivals also put in last-minute bids or intent-to-bids to acquire Stargate, with one bidder, Wormhole, unsuccessfully asking for the vote on LayerZero’s acquisition to be paused.

LayerZero developed and launched Stargate in 2022, and the deal now sees the platform come back under its control. Stargate facilitates transfers across blockchains using liquidity pools that it says allow assets to be transferred natively instead of relying on blockchain bridges, which have a history of being hacked.

LayerZero claims record participation 

LayerZero co-founder and CEO Bryan Pellegrino wrote on X on Sunday that the Stargate community vote had “the highest participation of any vote” in the platform’s history.

The voting website shows over 15,000 addresses took part, with 94.76% representing 7.2 million STG tokens voting in favor, while 5.24%, or 399,400 tokens, voted against. 

“Not only did ~95% of the stake weight vote in the affirmative, but ~95% of addresses voted in the affirmative,” Pellegrino added.

Source: Bryan Pellegrino

Wormhole made offer for Stargate

Wormhole made an offer on Saturday after saying on Wednesday that it would “submit a meaningfully higher bid,” and that LayerZero “doesn’t create a compelling offer, which values Stargate’s ongoing business at an unreasonably low number.”

Wormhole pitched a $120 million all-cash purchase that would see stakers of Stargate’s token “receive 3x the projected revenue for the next 6 months, accelerated and paid immediately, as part of our successful acquisition.”

Axelar, Across also considered a bid for Stargate

The cross-blockchain platforms Axelar Network and Across Protocol also signalled their interest in bidding for Stargate on Sunday, with both noting that the vote on LayerZero’s bid would need to be paused.

Across co-founder Hart Lambur posted to Stargate’s forum that it’d been suggested to him that his platform submit an offer for Stargate, but he had “no interest in rushing an 11th-hour proposal, however if this process is slowed down and other bids are properly considered, Across will participate.

The Axelar Foundation posted to the forum a few hours later that it had a “strong interest” in bidding if a “competitive process” was created for the acquisition, it would pitch “a comprehensive proposal and encourage Stargate to collect all options before making a decision.”

However, Stargate Foundation lead Angus Lamps said in response to the bids that the vote on LayerZero’s bid can’t be paused, and Stargate “has been engaging with any parties” that sign a non-disclosure agreement and want to conduct due diligence.

Related: Aave drops over 8% on rumors of World Liberty Financial token deal 

LayerZero’s initial proposal pitched using Stargate’s excess revenue for a ZRO buyback program, which some Stargate community members called “not attractive at all” as it didn’t offer advantages to STG holders.

It revised the offer on Sunday to give Stargate stakers half of all top-line revenue for six months, with the remaining half used to buy back its LayerZero (ZRO) token.

Under the approved deal, all circulating STG will be swapped for ZRO at a ratio of 1 STG to 0.08634 ZRO.

Magazine: Solana Seeker review: Is the $500 crypto phone worth it?



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August 25, 2025 0 comments
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Stargate Draws Second Acquisition Bid With Wormhole Topping LayerZero's $110M Buy Offer
NFT Gaming

Stargate Draws Second Acquisition Bid With Wormhole Topping LayerZero's $110M Buy Offer

by admin August 21, 2025



Wormhole has jumped into the bidding plans for bridging service Stargate, promising a bid above LayerZero’s initial $110 million token-swap proposal.

It wants the Snapshot vote delayed so the community can weigh its offer.

Stargate’s numbers explain the interest. The bridge processed $4 billion in July, holds $345 million in TVL, and sits on a treasury of $92 million in stables and ether, plus $55 million in STG and other assets. The annual revenue is approximately $2 million.

“Based on our initial review, we believe that STG holders deserve a more competitive process, and we are prepared to submit a meaningfully higher bid,” the proposal said.

LayerZero’s proposal would transfer both the treasury and future income, which critics call a discount. Wormhole says the terms shortchange tokenholders and that “STG holders deserve better.”

A Wormhole–Stargate tie-up would create one of the largest cross-chain hubs in crypto, pairing Stargate’s unified liquidity pools with Wormhole’s integrations across dozens of networks. The foundation argues this would boost volume and long-term resilience for both ecosystems.

“The Wormhole Foundation sees unrealized value in the Stargate brand, protocol, and protocol assets,” the proposal said. “The Wormhole Foundation is confident that a successful combination of Stargate and the Wormhole ecosystem will lead to the most immediate and long-term value for current holders of STG, as well as current and future holders of Wormhole (W).”

Wormhole has requested a five-day delay in the vote, seeking more time for due diligence and a fairer process.

Read more: LayerZero Proposes $110M Stargate Token Merger in Consolidation Play



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August 21, 2025 0 comments
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Stargate price surges as Wormhole floats acquisition bid
GameFi Guides

Stargate price surges as Wormhole floats acquisition bid

by admin August 20, 2025



Stargate price rose sharply as the Wormhole Foundation announced its intention to enter a bidding war for the cross-chain protocol.

Summary

  • Stargate price jumped by more than 10% amid news that Wormhole Foundation wants to acquire the cross-chain protocol.
  • LayerZero has bid $110 million for the protocol, but Wormhole feels this undervalues Stargate.

The price of Stargate (STG) jumped more than 10% to climb from lows of $0.1633 and hit $0.182 across crypto exchanges on Aug. 20.

STG, native to the cross-chain protocol Stargate, had dipped in the wake of the broader crypto downturn that saw top altcoins crash to support levels on Tuesday, Aug. 19.

However, as Bitcoin (BTC) bid to bounce above $114k and Ethereum (ETH) reclaimed the $4,300 level, Stargate’s price shot up. The double digit gains for STG however coincides with another development – a key announcement from the Wormhole Foundation.

Wormhole Foundation wants to acquire Stargate

Stargate has attracted the attention of Wormhole Foundation, the entity supporting the Wormhole (W) ecosystem. 

Specifically, it believes it can offer a better deal if it acquires Stargate instead of LayerZero (ZRO).

At the WF, we have respect for the @StargateFinance protocol, its team, and especially its holders. Stargate is a leader in multichain asset transfers. That’s why we’re stepping up with our intent to acquire Stargate – to ensure holders get the fair deal they deserve.

— Wormhole Foundation (@WormholeFdn) August 20, 2025

On Aug. 11, LayerZero outlined a bid to acquire Stargate, and on Aug.17, Stargate announced that a snapshot for the proposed acquisition was live.

Terms include a figure of $110 million, with all circulating STG set to be swapped for ZRO, a revenue-sharing model, and the transition of Stargate operations to the LayerZero Foundation.

Now, the Wormhole Foundation says Stargate should pause the snapshot and allow for a competitive bidding process that will offer a deal that reflects Stargate’s worth and growth potential.

LayerZero’s offer of $110 million in ZRO for about $76.47 million in stablecoins and $15.9 million in ETH, and the “permanent capture of all future protocol revenue,” is low for Stargate, the Wormhole Foundation contended.

“Treasury alone is ~$92M, excluding STG tokens, yet the proposed deal hands over assets and ongoing economic upside for only $110M in token consideration. It doesn’t create a compelling offer, which values Stargate’s ongoing business at an unreasonably low number,” they noted.

Stargate protocol growth

In requesting a pause to the snapshot, the platform said its request is because STG holders deserve to get a better deal.

“The current bid undervalues the protocol’s assets, brand, codebase, and team. We’re prepared to submit a meaningfully higher offer, and we believe a competitive process will drive even more value for everyone involved,” WF wrote.

Stargate’s snapshot vote was scheduled to end on August 24 at 00:15 a.m. GMT.

The STG token traded to highs of $4.28 in April 2022, but has struggled to hit these highs since. However, the Stargate protocol has experienced notable growth, with bridge volume up 10x since July 2024 and the protocol’s total value locked hitting $345 million.

Stargate has gone live across more than 80 chains.





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August 20, 2025 0 comments
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