Oracle Jumps Amid $500 Billion AI Project Announcement

Oracle (ORCL) shares surged by 6% on Tuesday following reports of a $500 billion investment in AI infrastructure led by President Trump.

According to CBS News, Trump unveiled a private-sector initiative to establish a nationwide AI network, with major players including Oracle, OpenAI, and SoftBank. The venture, dubbed "Stargate," will reportedly commence with a data center project in Texas, backed by an initial $100 billion investment.

The initiative is expected to attract additional investments, reaching $500 billion in the coming years. Key executives from OpenAI, Oracle, and SoftBank will attend the White House event.

Notably, Trump recently repealed an executive order imposing safety guidelines on generative AI, a move welcomed by Big Tech executives present at his inauguration. Other policy announcements from the president included an energy emergency declaration and an emphasis on immigration.

Key Takeaways:

* Oracle shares rise on news of $500 billion AI investment.
* Stargate venture involves Oracle, OpenAI, SoftBank, and other companies.
* Trump's executive order repeal on AI safety guidelines seen as favorable by the tech industry.
* Further announcements from the president are anticipated later this week.