Oracle stock is higher Wednesday after President Trump announced the $500 billion AI-focused Stargate Project. Here's what you need to know.

Yesterday the world of AI and stocks in the sector changed as President Donald Trump announced the formation of Stargate , a new $500 billion joint venture deal to build artificial intelligence infrastructure in the US, with Oracle ( NYSE:ORCL ), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank all at the table ..

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.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank .

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.

Elon Musk has cast doubt on if there is enough funding to follow through on a massive $500 billion artificial intelligence infrastructure project announced by Trump on Tuesday.

A new company called Stargate, which combines some of the largest names in the artificial intelligence industry, was announced by President Donald Trump.

President Donald Trump is supporting the newly formed Stargate to advance AI as construction on the company's first data center gets underway in Abilene. Trump announced the new entity formed by OpenAI,