Trump’s AI Ambitions Send Oracle Stock Soaring
In a surprise move, President Trump is set to announce a massive $500 billion investment in artificial intelligence infrastructure, with tech giants Oracle, OpenAI, and SoftBank leading the charge. This bold initiative, dubbed Stargate, is expected to kick off with a data center project in Texas, with company executives committing to an initial investment of $100 billion.
A New Era for AI in the US
According to CBS News, Trump’s announcement will mark a significant shift in the country’s approach to AI development. The joint venture aims to create a robust AI infrastructure, with multiple companies expected to join the effort, driving investment up to $500 billion in the coming years.
Big Names Back the Initiative
Industry heavyweights, including SoftBank CEO Masayoshi Son, OpenAI chief Sam Altman, and Oracle CEO Larry Ellison, are all set to attend the White House event. Their presence underscores the significance of this initiative, which is expected to have far-reaching implications for the tech sector.
Executive Orders Clear the Way
On Monday, Trump signed a series of executive orders, including one that rescinds a Biden-era order establishing safety guidelines for generative AI. This move is seen as a boon for Big Tech, which has been cozying up to the Trump administration since the November election.
A Busy First Week
Trump’s first week in office has been marked by a flurry of activity, including the invocation of a national energy emergency and a focus on immigration. With more actions expected later this week, including clarity on his tariff plans, the tech sector is bracing for impact.
Oracle Stock Surges
Oracle’s stock jumped 7% on Tuesday, following news of the company’s involvement in the Stargate initiative. This significant uptick is a clear indication of investor confidence in the project’s potential. As the tech sector continues to evolve, one thing is clear: AI is set to play a starring role in the years to come.
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