Oracle stock surged after the announcement of a $500 billion AI infrastructure partnership, “Stargate,” involving Oracle, OpenAI, Nvidia, and SoftBank. The initiative, unveiled by former President Trump, includes $100 billion in U.S. infrastructure investment in its first year, creating “hundreds of thousands” of jobs and positioning OpenAI as its operational leader. Oracle shares rose 7%, leading mega-cap stock gains, while Nvidia and SoftBank-backed Arm Holdings also saw stock increases. Larry Ellison, Oracle's chairman, gained $12 billion from the stock rally, surpassing Mark Zuckerberg to become the world’s third-richest person. The partnership strengthens Oracle’s role in AI development, leveraging its existing relationships with OpenAI and its critical role in hosting TikTok’s U.S. data. Continue here.
