Tech stocks enjoyed a surge Wednesday, driven by a sharp rise in semiconductor shares after President Donald Trump, OpenAI's Sam Altman, Oracle Corp. (NYSE:ORCL) co-founder Larry Ellison, and SoftBank CEO Masayoshi Son unveiled the Stargate Project on Tuesday.

Shares of Austin, Texas-based Oracle Corp. (ORCL) are on track to open at their highest level since early December after the company joined an OpenAI-led artificial intelligence (AI) joint venture named Stargate,

The Trump Administration has announced an AI infrastructure joint venture in the U.S. named “Stargate,” comprised of OpenAI, SoftBank Group (OTC:SFTBF) (OTC:SFTBY), Oracle Corp (NYSE:ORCL), and Abu Dhabi’s MGX.

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Shares of AI-related tech companies are trading higher Wednesday after U.S. President Donald Trump announced a $500 billion AI infrastructure investment called Project Stargate.

The effort was described as a $500 billion investment in artificial intelligence. Read how a small Texas city with a population of about 130,000 fits into the plans.

Stargate "will be the most important project of this era,” OpenAI CEO Sam Altman said Tuesday alongside Trump.

Oracle stock jumped 6% on a report that Trump plans to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the US.

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.

GoFundMe, the crowdfunding website where people can quickly raise money to help others, has generated more than $100 million for those impacted by the Los Angeles wildfires. The sum, pledged in the wake of the fires that erupted on Jan.

President Donald Trump was joined by the CEOs of Softbank, OpenAI and Oracle to announce a major private artificial intelligence infrastructure investment.

SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.