Oracle's stock surges 8.51% after Trump announces $500B AI initiative, solidifying its role as a key AI provider. CEO Ellison's stake also rises.

The project will entail a joint venture between Oracle, Open AI and Softbank with the promise of investing nearly $500 billion into artificial intelligence infrastructure over the next four years. Other partners also include Nvidia,

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,