OpenAI CEO Sam Altman speaks at the White House as a major investment deal between Oracle, SoftBank, and OpenAi is announced on January 21, 2025.Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL),

Elon Musk weighed in on one of the first business investment unveilings by President Donald Trump Wednesday, in a move that could suggest friction at the heart of the new administration's focus on America's leadership in the global technology race.

U.S. President Donald Trump said on Tuesday he was open to billionaire Elon Musk buying social media app TikTok if the Tesla CEO wanted to do so.

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.”

Shares of Oracle ( ORCL 7.17%) are on the move today. The firm's stock is up 5.7% as of 1 p.m. ET. The leg up comes as the S&P 500 ( ^GSPC 0.88%) and Nasdaq Composite ( ^IXIC 0.64%) gained 0.6% and 0.3%, respectively.

Canadian investor and Shark Tank star Kevin O’Leary is still interested in a TikTok deal, but it’s not possible under current law, he told CNBC.

Oracle stock trades at a price-to-earnings ratio (P/E) of 40.5, which is a slight premium to the average P/E of Microsoft, Amazon, and Alphabet (36.7). They are three of the biggest operators of AI data center infrastructure besides Oracle:

Nasdaq futures (NQ=F) are jumping this morning after President Trump announced Stargate, a push to help support AI growth in the United States. Among the big companies involved in the project are OpenAI,

Trump's first day saw a barrage of executive orders, 26 in total, that are a record for a President's first day. Click here for more insights.

Tech stocks enjoyed a surge Wednesday, driven by a sharp rise in semiconductor shares after President Donald Trump, OpenAI's Sam Altman, Oracle Corp. (NYSE:ORCL) co-founder Larry Ellison, and SoftBank CEO Masayoshi Son unveiled the Stargate Project on Tuesday.

CEO Satya Nadella shrugged off funding concerns raised by Elon Musk over the $500 billion AI infrastructure project, Stargate, spearheaded by President Trump.

Shares of Oracle ( ORCL 6.97%) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.