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.

Microsoft on Tuesday said it has changed some key terms of a deal with OpenAI after the ChatGPT creator announced a joint venture with Oracle and Japan's SoftBank Group to build up to $500 billion of new AI data centers in the United States.

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.

SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.

Shares of SoftBank Group Corp. jumped as much as 8.1% after US President Donald Trump announced a multi-billion dollar push by the Japanese company, OpenAI and Oracle Corp. to build AI infrastructure in the US.

The Stargate project, announced at the White House, involves an initial investment of $100bn, with plans to increase this to $500bn over the next four years.

Oracle Corporation (NYSE:ORCL) shares are trading higher premarket on Wednesday. On Tuesday, the company disclosed new AI agents and generative AI features in Oracle Fusion Cloud Sales to enhance sales engagement and streamline processes.

President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. Stargate is a joint venture between top tech companies Oracle,

Softbank will have "financial responsibility" for the project with Masayoshi Son serving as the chairman of the venture, news that drove the stock (JP:9984) 11% higher in Tokyo. SoftBank's top holding, ARM (ARM), will be one of the technology partners, alongside companies including Oracle (ORCL) and Nvidia (NVDA).

The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia, Microsoft and ARM— companies that have all been paramount to the significant AI boom in recent years.

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