The joint venture, called Stargate, plans to invest $500 billion to help the United States stay ahead of China and other rivals in the global AI race, Trump said at the White House on Tuesday.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank.

OpenAI, SoftBank (9984.T), and Oracle (ORCL.N) will form a joint venture called Stargate, with a plan to invest $500 billion, Trump said at the White House. Trump said he will help facilitate the project with emergency orders.

Musk slammed a Trump-backed $500 billion AI joint venture building out OpenAI’s artificial general intelligence.

OpenAI, Softbank and Oracle will join forces to create Stargate, a new company investing $500 billion in AI infrastructure. President Donald Trump said of the investment: “A resounding

OpenAI, Oracle, and SoftBank formed Stargate, a new venture investing up to $500 billion in AI infrastructure in Texas. President Donald Trump talked up the partnership on Jan. 21, calling it ”a resounding declaration of confidence in America’s potential.