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.

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

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.

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.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

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.

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.

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 Oracle ( ORCL 6.97%) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.

U.S. stocks on Wednesday were extending their post-inauguration rally to a second day as Wall Street welcomed President Donald Trump’s calmer-than-expected tone on tariffs and his artificial-intelligence initiative to expand tech infrastructure in the U.S.