Oracle Soars on AI Partnership with OpenAI and SoftBank
Oracle shares surged nearly 9% in Frankfurt on Wednesday, buoyed by news of the company's major investment in artificial intelligence (AI) infrastructure.
The investment is part of a joint venture dubbed "Stargate," which will see Oracle collaborate with OpenAI and SoftBank. The venture plans to invest a substantial $500 billion, according to an announcement made by U.S. President Donald Trump at the White House.
Oracle shares jumped 3% after the closing bell on Tuesday, continuing a strong trading day that saw shares gain 7%. The surge was driven by earlier reports of the anticipated joint venture.