On his second day in office, President Donald Trump unveiled a joint, private-sector venture to fund billions of dollars in U.S. artificial intelligence infrastructure. Dubbed Stargate, it will deploy $100 billion “immediately,

President Trump has announced a major AI initiative called "Stargate" -- but the firms involved have DEI policies that go against his goal of eliminating such programs.

The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.

Shares of technology companies rallied amid hopes for an acceleration of the artificial-intelligence boom.

President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

The move has been met with a mixture of cautious optimism from tech leaders and apprehension from experts concerned about the lack of oversight.

Shares in Japanese tech behemoth SoftBank Group soared more than eight percent on Wednesday after US President Donald Trump announced a major investment to build AI infrastructure.

Under the Trump administration, OpenAI and other members of the tech sector are making a push to establish AI dominance in the U.S.

Elon Musk, the close Trump adviser who has his own AI company and was notably not at the press conference, erupted Wednesday with a relentless stream of online mockery. “They don’t actually have the money,” he posted on X.

Wednesday closed up +0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.33%. March E-mini S&P futures (ESH25) are up +0.55%, and March E-mini Nasdaq futures (NQH25) are up +1.

“They have to produce a lot of electricity and we will make it possible for them to get that production done very easily, at their own plants if they want,” Trump said. “At the AI plant they will build energy generation and that will be incredible.” It’s unclear if building energy operations inside an AI data center is possible in practice.