Trump announces $500 billion 'Stargate' AI venture headed by Oracle, OpenAI, SoftBank
Published On Jan 21, 2025, 6:25 PM
President Donald Trump announced a $500 billion venture called 'Stargate' aimed at enhancing artificial intelligence infrastructure in the U.S. The project involves key players like Oracle, OpenAI, and SoftBank and will begin with a data center in Texas. The initial phase will see a commitment of $100 billion from participating companies, with expectations to boost investment to $500 billion over time. Trump claimed the venture could create over 100,000 jobs immediately. Following the announcement, Oracle's stock experienced a significant jump, reflecting strong market sentiment regarding the venture.
Stock Forecasts
ORCL
Positive
The announcement of a substantial investment in AI infrastructure, especially led by Oracle, OpenAI, and SoftBank, is likely to have favorable repercussions for investor sentiment in the AI and tech sectors. With plans for substantial job creation and partnership with industry leaders, the venture is expected to enhance Oracle's market position and potentially increase revenue streams from AI-related services.
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