LONDON (AP) – Oracle’s shares surged by nearly 9% in trading in Frankfurt on Wednesday, following an announcement by U.S. President Donald Trump regarding a major investment in artificial intelligence infrastructure. The investment, in collaboration with OpenAI and SoftBank, is part of a joint venture named Stargate, which is set to inject $500 billion into the initiative, as revealed by Trump during a speech at the White House the previous day.

After the news of the joint venture broke, Oracle’s shares experienced a 3% increase after the market closed on Tuesday, on top of a 7% gain during regular trading hours. This boost in shares highlights the market’s positive response to the significant investment in AI infrastructure led by Oracle, in partnership with OpenAI and SoftBank.

The Stargate project signals a significant step towards advancing AI technologies and infrastructure, with the substantial investment showcasing a commitment to driving innovation in the field. The collaboration between Oracle, OpenAI, and SoftBank underlines the importance of cross-industry partnerships in accelerating the development and deployment of AI solutions.

President Trump’s endorsement of the investment in AI infrastructure underscores the government’s recognition of the critical role that advanced technologies like artificial intelligence play in shaping the future of industries. The sizeable sum allocated for the Stargate project signifies a bold move towards fostering technological innovation and establishing the United States as a leader in AI development and implementation.

Overall, the announcement of the Stargate joint venture and the substantial investment in AI infrastructure by Oracle, OpenAI, and SoftBank has generated significant interest and enthusiasm within the market and technology sectors. As developments in artificial intelligence continue to evolve and expand, collaborations like Stargate are expected to drive further advancements and breakthroughs in AI technologies on a global scale.