You know Stargate is sci-fi, right? By Reuters

Check out the date on the European and international markets from Stella Q

Donald Trump’s second day in office ended with the announcement that OpenAI, SoftBank ( TYO: ) Group and Oracle ( NYSE: ) have formed a venture called Stargate to invest $500 billion in AI infrastructure across the United States, though how much has already been a long time coming. It’s planned and anyone’s guess.

It shares its name with a 1994 science fiction film and a long-running television series.

Although its goals are more modest than interstellar teleportation, the project could help strengthen America’s lead over China in the race to develop AI. Investors aren’t shy about agreeing, with SoftBank shares up 10% in Asia, helping it rise 1.7%. Taiwanese stocks gained 1.3 percent. ()

The region’s underperformers were China and Hong Kong, with the former blue-chip index up 1% and the latter sliding 1.6%.

To be sure, that’s partly due to Trump’s announcement that 10% tariffs on Chinese goods will begin on February 1st.

However, this is significantly less than the 60% promised during the election campaign. And if the 10% tariff happens now, it remains to be seen whether Trump will negotiate with Beijing to sell a portion of TikTok to Tesla (NASDAQ:) CEO Elon Musk or Oracle Chairman Larry Ellison.

European stock markets were set to open slightly higher, with pan-European STOXX 50 futures up 0.2% and UK futures up 0.1%.

European Central Bank President Christine Lagarde will attend the World Economic Forum in Davos, Switzerland. Appearances by other ECB officials include Governing Council member Francois Villeroy de Galhau talking about interest rates.

Market participants think the bank is certain to cut its policy interest rate by 25 basis points next week, but the question for many is how low it could go. With inflation still above the ECB’s target, predicting terminal rates will not be easy, but growth headwinds are strengthening as Trump puts friends and foes in the America-first firing line.

So far, the swaps have indicated four rate cuts this year to around 2 percent.

On Wall Street, Nasdaq futures gained 0.7%, led by a 14% jump in Netflix (NASDAQ: ) , which posted a record profit for subscribers last quarter.

Still, as Stargate becomes a reality in one form or another, there will be less need to disseminate scientific information in the coming years.

Key developments that can affect the markets on Wednesday: * Participation of ECB President Christine Lagarde in a discussion during the World Economic Forum in Davos * Member of the ECB Governing Council and Governor of the Bank of France Francois Villeroy de Galhau to speak on the Davos panel about interest rates; ECB policymaker Klaus Knoth speaks in Davos * Earnings from Johnson & Johnson (NYSE: ), Halliburton (NYSE: )

(By Stella Qiu; Editing by Christopher Cushing)