Oracle Corp ORCL just got its golden AI ticket. The stock surged as much as 8.51% in pre-market trading Wednesday after President Donald Trump unveiled Project Stargate, a massive $500 billion AI infrastructure initiative featuring Oracle, OpenAI, Nvidia Corp NVDA, and SoftBank Capital.
Oracle Corporation (NYSE: ORCL) stock price is soaring, fueled by excitement over a transformative initiative in artificial intelligence infrastructure.
Donald Trump last night unveiled a US$500 billion plan for a US AI Infrastructure network to be called Stargate, sending shares in tech companies soaring. A joint venture with companies such as Open Ail, Oracle and Japanese investment firm Softbank, initial funding for the Texas-based project will be US$100 billion with the President claiming it will create 100,000 jobs “This is money that would normally have gone to China,” Trump said.
Oracle shares jumped nearly 9% in Frankfurt on Wednesday, after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, together with OpenAI and SoftBank.
President Trump announced a private sector AI infrastructure investment of up to $500 billion. OpenAI, Oracle, and SoftBank will work together to create a venture named Stargate.
Oracle (ORCL) shares surged Tuesday following reports that President Donald Trump could soon announce an artificial intelligence initiative involving the database software maker.
Oracle stock was the most notable winner from the stock market's first day of trading during President Donald Trump's second term, adding more than $30 billion in market value following reports the cloud computing and data storage giant will announce a massive artificial intelligence infrastructure partnership at the White House later Tuesday.
President Donald Trump is set to announce a joint venture with OpenAI, Oracle and Softbank to invest billions of dollars in AI infrastructure in the U.S., sources told CNBC and NBC News. The project, dubbed Stargate, is expected to be unveiled at the White House by Trump, Softbank CEO Masayoshi Son and executives from the tech giants.
President Trump is reportedly planning to announce major AI infrastructure investments, signaling a willingness to work alongside large technology companies.
Shares of Oracle (ORCL 6.31%) are on the move today. The firm's stock is up 5.7% as of 1 p.m.
Oracle will be involved in a joint venture for artificial intelligence infrastructure in the U.S. that President Trump will announce, CNBC has confirmed. One of Oracle's major customer wins last year was OpenAI, which needs graphics processing units to train and run artificial intelligence models.
Oracle on Tuesday released a new set of artificial intelligence agents to help salespeople with a range of tasks around dealing with customers.