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."

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

Global industrial and technology stocks including Oracle and Schneider Electric rallied on Wednesday after U.S. President Donald Trump unveiled a massive artificial intelligence investment push.

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

Several large technology firms including OpenAI, SoftBank, Oracle, Nvidia, and MGX have partnered to set up a new company in the US to ramp up AI infrastructure in the country. Named Project Stargate,

The goal is to kickstart building more data centers 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.