The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.

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."

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged. Companies such as Oracle Corp.

Shares of Nvidia, Microsoft, Oracle, and other AI-related companies surged Wednesday after the Trump administration’s announcement of a $500 billion joint venture spurred optimism about a rising tide of AI investments.

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,

Now that it's the world's most valuable company, some investors might believe the time to buy Nvidia has already passed, but these developments show that's not the case. Furthermore, the stock is currently selling for just 32 times next year's expected sales, a remarkably attractive price for a company with so much opportunity.

A plan to build a system of data centers for artificial intelligence has been revealed in a White House press conference, with Masayoshi Son, Sam Altman, and Larry Ellison joining Donald Trump to announce The Stargate Project.

President Trump unveiled the AI initiative on Tuesday alongside the executives of OpenAI, Oracle and Softbank.

SoftBank Group Corp. (TYO:9984) and OpenAI have each pledged $19 billion to Stargate, a groundbreaking technology initiative focused on AI data centers, The Information reports. OpenAI and SoftBank will each hold a

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.

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.

On Tuesday, Trump said that ChatGPT creator OpenAI, SoftBank , Oracle and others will pour up to $500 billion in private capital into a joint venture called Stargate, which he said will build data centers and create more than 100,