Oracle Corporation (NYSE:ORCL) stock increased by 5.7% on market opening today following the announcement of President Donald Trump's ambitious Stargate AI initiative which promises $500 billion for AI infrastructure development while building AI dominance in the U.

On the second day of his second presidency, Donald Trump announced the creation of a joint venture with OpenAI, Softbank, and Oracle to build large-scale AI data centers in the United States. The new company,

The goal is to kickstart building more datacenters to expand computing capacity for current and future AI projects, including OpenAI's goal of "AGI," which the company defines as a highly autonomous AI system that "outperforms humans at most economically valuable work.