Oracle stock jumps 7% after report says Trump to announce new $500 billion AI investment
Published On Jan 21, 2025, 4:20 PM
Oracle's stock rose by 7% following reports that President Trump will announce a major $500 billion investment in AI infrastructure. This investment will involve several companies, including Oracle, OpenAI, and SoftBank, under a joint project called Stargate, which begins with a new data center in Texas. The initial commitment is expected to be $100 billion with more investments anticipated in the coming years.
Stock Forecasts
ORCL
Positive
The announcement of such a significant investment in AI infrastructure allows Oracle to strengthen its position in the tech market, particularly in cloud services and AI technology. This could lead to increased revenues and market dominance.
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