Oracle shares rose after Trump unveiled a $500 billion AI plan.

In Meda Singh

(Reuters) – Oracle shares jumped 9 percent in premarket trade on Wednesday after U.S. President Donald Trump said the company would make big investments in artificial intelligence infrastructure alongside OpenAI and SoftBank.

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

The enterprise plans to deploy $100 billion immediately, with the remaining investment to be made over the next four years. Construction of the project’s first data centers has begun in Texas.

Navia will supply chips for the invention, sending the chip giant’s stock up 2.4 percent. Other “technology partners” gained, with Microsoft up 1.5% and ARM up 5.4%.

“We believe this is the start of massive AI investments in the U.S. as we expect several big tech players to make announcements in the coming weeks,” Wedbush analyst Dan Ives said.

AI consumes huge amounts of energy to run its massive computing power, which increases the demand for specialized data centers and the electricity needed to run them.

That boosted shares of nuclear power company Vistara by 4.2 percent. The company’s shares have more than quadrupled in the past 12 months, driven in part by data centers’ increasing demand for clean, sustainable energy.

Shares of AI server makers also gained, with Dell Technologies up 3.4 percent and Super Microcomputer up 3.3 percent. Among other stocks, AI data analytics firm Palantir Technologies gained 2.1 percent.

Oracle shares closed 7% higher on Tuesday, boosted by reports of a joint venture.

(Reporting by Amanda Cooper and Medha Singh; Editing by Samuel Indike and Taseem Zahid)