Oracle stock jumps 6% after report says Trump to announce new $500 billion AI investment
Published On Jan 21, 2025, 1:45 PM
Oracle's stock surged by 6% following reports that President Trump will announce a $500 billion investment in AI infrastructure. This investment involves significant contributions from Oracle, OpenAI, and SoftBank, with an initial commitment of $100 billion set to be revealed at a White House event. The joint venture, dubbed 'Stargate', aims to enhance AI capabilities in the U.S., starting with a data center project in Texas.
Stock Forecasts
ORCL
Positive
The announcement of a major investment in AI infrastructure could positively impact Oracle, presenting new business opportunities and enhancing its market position in a growth sector. Additionally, Trump's involvement may lead to more favorable regulatory conditions for tech companies.
Related News
Stock market today: Dow, S&P 500, Nasdaq rise as Trump holds off on tariffs
Jan 21, 2025, 2:35 PM
Investors are appraising the likely impact of Trump's orders on stocks on the first trading day after the inauguration.
Trump to announce up to $500 billion private sector AI infrastructure investment, sources say
Jan 21, 2025, 12:57 PM
(Reuters) -President Donald Trump is due to announce private sector investment of up to $500 billion of artificial intelligence infrastructure on Tuesday, two sources told Reuters. OpenAI, SoftBank and Oracle plan a joint venture called Stargate, and have committed $100 billion initially and then up to $500 billion into Stargate over the next four years, the sources said. CBS first reported the expected announcement.
TikTok says 'in the process of restoring service' after going dark in US, citing Trump 'clarity'
Jan 19, 2025, 12:26 PM
TikTok said Sunday it was beginning to restore service for US users after going dark overnight following a new law that effectively banned the app.