Yesterday the world of AI and stocks in the sector changed as President Donald Trump announced the formation of Stargate , a new $500 billion joint venture deal to build artificial intelligence infrastructure in the US, with Oracle ( NYSE:ORCL ), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank all at the table ..

Shares of Oracle ( ORCL 6.75%) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.

In addition to Trump, you can guarantee that virtually every tech company will mention AI revenue and spending. According to Jefferies analyst Brent Thill, Microsoft should report improved AI consumption and continued spending, something investors have been hoping for as the company works to meet customer demand for AI infrastructure.

As the fate of TikTok hangs in the balance, one of the world’s most popular and successful content creators has announced a bid to buy it. 💰💸Limited time! Get TheStreet Pro’s quarterly call for free.

Salesforce CEO Marc Benioff was literally chuckling when talking to CNBC from Davos about the new rift in Microsoft’s relationship with OpenAI. As part of OpenAI’s plans to team up with SoftBank and Oracle on a $500 billion data center project called Stargate,

People take pictures on an overpass with a display of stock information in front of buildings in the Lujiazui financial district in Shanghai, China August 6, 2024. REUTERS/Nicoco Chan/File photo ...

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Oracle Financial Services Software Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 83,287.37 Crore) operating in IT Software sector. Oracle Financial Services Software Ltd. key Products/Revenue Segments include ...