SoftBank Group Corp. said it’s taking longer than anticipated to get Stargate off the ground, conceding for the first time that the $500 billion artificial intelligence tie-up in the US with OpenAI is bogging down.

Japanese technology investor SoftBank Group on Thursday booked a net profit of $2.87 billion in the first quarter, driven by gains among larger listed investments in its Vision Fund portfolio.

SoftBank Group ( OTCPK:SFTBY) ( OTCPK:SFTBF) said it is taking longer than expected to get the Stargate project off the ground, acknowledging for the first time that the $500B AI collaboration in the U.S. with OpenAI is slowing down, Bloomberg News reported.