On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged. Companies such as Oracle Corp.

The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.

The past few years have been undeniably profitable for Nvidia ( NVDA 4.43%) investors. The stock price has surged more than sevenfold over the past two years, and today, it topped the charts as the world's most valuable company in terms of market cap. The stock was up as much as 4.7% Wednesday morning. At 12:32 p.m. ET, the stock was still up 4.1%.

Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

Shares of Nvidia, Microsoft, Oracle, and other AI-related companies surged Wednesday after the Trump administration’s announcement of a $500 billion joint venture spurred optimism about a rising tide of AI investments.

The $500B Stargate Initiative, led by Trump, OpenAI, SoftBank, and Oracle, is set to revolutionize U.S. AI infrastructure.

SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.

Former SoftBank exec Akshay Naheta's startup, Distributed Technologies Research, is trying to bridge the gap between banking and blockchain tech. Akshay Naheta, a former SoftBank dealmaker, builds new-age pipes to modernize global payment networks.

OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.