oracle (ORCL) stock jumped 7% on Tuesday after a report said the company is set to be part of a $500 billion investment in AI infrastructure to be announced by President Trump on Tuesday.
CBS News reported on Tuesday Along with Oracle, ChatGPT maker OpenAI, and Japanese group SoftBank (SoftBank), Trump is set to announce a new private sector investment to build artificial intelligence infrastructure in the US.9984.T) among those committing to a joint venture.
The joint venture, called Stargate, is expected to begin with a data center project in Texas, CBS reported, and company executives committed to an initial investment of $100 billion in an appearance at the White House on Tuesday. was expected to happen. More companies are expected to join the venture and bring up to $500 billion in investment to the program in the coming years.
SoftBank CEO Masayoshi Son, OpenAI chief Sam Altman, and Oracle CEO Larry Ellison were expected to attend Tuesday’s event.
On Monday, Trump Signed a wave of executive ordersIncluding a Biden-era repeal executive order which established security guidelines for generative AI. The order required large language models to share security test results with the US government and federal agencies tasked with assessing potential threats.
Big tech executives, including Amazon’s Jeff Bezos, Meta’s Mark Zuckerberg, and Apple’s Tim Cook, were in attendance at the president’s inauguration on Monday as the sector braced for Trump’s November election win.
The second day includes the actions of the President Calling for a national energy emergencyAlso a heavy focus on immigration. More actions are expected this weekend, including more clarity from Trump Highly anticipated tariff plans.
Alexandra Canal is a senior reporter at Yahoo Finance. Follow him on X @allie_canal, linkedin, And email her at alexandra.canal@yahoofinance.com.
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