Oracle shares surged nearly 9% in Frankfurt after U.S. President Donald Trump revealed that the company would collaborate with OpenAI and SoftBank in a major artificial intelligence (AI) infrastructure initiative. The joint venture, named Stargate, aims to invest a staggering $500 billion, a move that has garnered significant attention from investors.
This announcement came just a day after Trump disclosed the plan at the White House. The news also contributed to a 3% rise in Oracle shares after the regular trading hours on Tuesday, following a 7% gain earlier in the day.
The surge in Oracle’s stock price reflects the market’s optimism about the potential impact of this massive investment in AI, with many viewing the partnership as a significant step forward in advancing AI infrastructure on a global scale.
Source: REUTERS