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.

The Trump Administration has announced an AI infrastructure joint venture in the U.S. named “Stargate,” comprised of OpenAI, SoftBank Group (OTC:SFTBF) (OTC:SFTBY), Oracle Corp (NYSE:ORCL), and Abu Dhabi’s MGX.

MGX stock is soaring Wednesday on the heels of the company’s involvement with OpenAI and SoftBank’s (SFTBY) new Stargate project. There’s just one minor problem — it’s the stock ticker for the wrong MGX.

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

Oracle stock jumped after a report that the company is set to invest billions in an AI infrastructure buildout with Trump's backing.

Japanese technology investor SoftBank Group and its majority-owned Arm Holdings are exploring a deal for Oracle -backed semiconductor firm Ampere Computing, a person familiar with the matter said on Wednesday.

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.

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.

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.

U.S. stocks could open on a positive note on Wednesday, continuing to rally after Donald Trump's inauguration as the 47th President of the U.S. on Monday. Futures point to a second consecutive day of positive start to the Trump presidency.

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.