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.

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."

The past few years have been undeniably profitable for Nvidia ( NVDA 4.43%) investors. The stock price has surged more than sevenfold over the past two years, and today, it topped the charts as the world's most valuable company in terms of market cap. The stock was up as much as 4.7% Wednesday morning. At 12:32 p.m. ET, the stock was still up 4.1%.

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,

SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

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

Trump Administration announced Stargate AI infrastructure joint venture, investing $500 billion over 4 years. SoftBank, Oracle, OpenAI, and Abu Dhabi's MGX involved.

SoftBank, Oracle and others have very big artificial-intelligence spending plans with very little detail. Investors are very pleased. On Tuesday, the new Trump administration said the companies wou

Masayoshi Son founded SoftBank in 1981. It has invested millions in some of Silicon Valley's biggest tech companies.