Oracle's stock surges 8.51% after Trump announces $500B AI initiative, solidifying its role as a key AI provider. CEO Ellison's stake also rises.

Shares of Austin, Texas-based Oracle Corp. (ORCL) are on track to open at their highest level since early December after the company joined an OpenAI-led artificial intelligence (AI) joint venture named Stargate,

Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

The venture involves OpenAI, Softbank, and Oracle, and starts with an investment of $100 billion. On the second day of his second presidency, Donald Trump announced the creation of a joint venture with OpenAI,