Oracle (ORCL) stock jumped 7% on Tuesday — and continued its ascent in after-hours trading — as President Donald Trump announced it would be part of a $500 billion investment in AI infrastructure with other leading tech companies.

President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure.

US President Donald Trump announced that OpenAI, Softbank and Oracle (ORCL.US) will form a joint venture called Stargate with the goal of building AI infrastructure in the US, CBS reported. Trump said that he hopes to retain AI projects within the US and that the US must build power and other facilities swiftly,

AI initiative Stargate, backed by Oracle, OpenAI, and SoftBank, will focus on infrastructure, starting with data centers in Texas.

Key Takeaways President Trump on Tuesday announced a joint venture with Oracle, OpenAI, and SoftBank to build AI infrastructure in the U.S.The companies said they would commit $100 billion to start, and as much as $500 billion over the next four years toward the initiative,

US President Donald Trump announced that OpenAI, Softbank and Oracle (ORCL.US) will form a joint venture called Stargate with the goal of building AI infrastructure in the US, CBS reported. Trump said that he hopes to retain AI projects within the US and that the US must build power and other facilities swiftly,

OpenAI CEO Sam Altman is set to appear at the White House Tuesday afternoon alongside President Donald Trump and other tech CEOs to announce a massive private sector investment in artificial intelligence infrastructure in the United States,

President Donald Trump is due to announce private sector investment of up to $500 billion of artificial intelligence infrastructure on Tuesday, two sources told Reuters. OpenAI, SoftBank and Oracle plan a joint venture called Stargate,