The joint venture, called Stargate, plans to invest $500 billion to help the United States stay ahead of China and other rivals in the global AI race, Trump said at the White House on Tuesday.

Trump announced that $100 million will go into effect right now while Oracle and its partners will invest the other funds over four years. Data center development starts in Texas to handle the expanding demand for AI technology.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank.

SK Hynix CFO Kim Woohyun said that the outlook for memory demand in 2025 was clouded by inventory adjustments, protective trade policies and geopolitical risks.

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung.

SK Hynix Inc.’s shares slid 4.7% after its record quarterly profit and modest capex plans failed to impress investors betting on insatiable AI demand for advanced memory chips.