On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

Arm Holdings Plc. (ARM), and chipmaking companies like Taiwan Semiconductor Manufacturing Co. (TSM), Micron Technology Inc. (MU), and Intel Corp. (INTC) surged in pre-market trade on Wednesday after President Donald Trump announced the ‘Stargate Project’ worth $500 billion.

Netflix stock soars after strong subscriber gains, Oracle teams with OpenAI and SoftBank in a $500 billion AI infrastructure partnership, and Johnson & Johnson falls after mixed guidance.

SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.

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

The president said it will be the largest AI infrastructure ever built and that it will help counter technology threats from China and other countries.

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,

Former SoftBank exec Akshay Naheta's startup, Distributed Technologies Research, is trying to bridge the gap between banking and blockchain tech. Akshay Naheta, a former SoftBank dealmaker, builds new-age pipes to modernize global payment networks.

SoftBank, OpenAI, and Oracle are launching a $500 billion joint venture named Stargate to fund AI infrastructure in the U.S. The initiative, praised by President Trump, aims to deploy $100 billion immediately for projects like data centers and cancer research.

At the core of this initiative is the formation of a new company, The Stargate Project, a joint venture between OpenAI, SoftBank, Oracle, and MGX. Over the next four years, this project will invest an astonishing $500 billion to develop cutting-edge AI infrastructure in the U.S., aiming to secure the country’s leadership in artificial intelligence.

Two weeks before taking office, Trump announced a $20 billion investment from Dubai-based billionaire Hussain Sajwani for new data centers across the US.

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.