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."

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

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.

President Trump's support for AI boosts Nvidia's position, with Project Stargate driving growth in data centers and the Blackwell chip powering next-gen AI. Read more here.

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%.

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.

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,

Trump Administration announced Stargate AI infrastructure joint venture, investing $500 billion over 4 years. SoftBank, Oracle, OpenAI, and Abu Dhabi's MGX involved.

SoftBank Group Corp. (TYO:9984) and OpenAI have each pledged $19 billion to Stargate, a groundbreaking technology initiative focused on AI data centers, The Information reports. OpenAI and SoftBank will each hold a

SK Hynix Inc. reported a record quarterly profit after the company extended its lead in advanced memory chips for datacenters and artificial intelligence development.Most Read from BloombergTexas HOA

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.