Oracle shares jump 6% on involvement in AI infrastructure initiative that Trump will announce

Oracle shares jump 6% on involvement in AI infrastructure initiative that Trump will announce


Oracle co-founder Larry Ellison, center, watches Andy Murray of Great Britain against Alexander Zverev of Germany during their third round match on Day 9 of the BNP Paribas Open at the Indian Wells Tennis Garden on October 12, 2021 in Indian Wells, California.

Clive Brunskill | Getty Images Sport | Getty Images

Oracle shares jumped 6% on Tuesday on reports that the software maker is involved in a joint venture with OpenAI and SoftBank to build artificial intelligence infrastructure in the U.S.

President Donald Trump, who returned to the White House on Monday, will announce the plans, CNBC has confirmed. CBS News was first to report on the deal. The plans call for $100 billion initially and as much as $500 billion over four years.

Oracle shares soared 58% in 2024, their best performance since 1999, boosting co-founder and chairman Larry Ellison’s net worth by over $75 billion. Ellison has connections to the White House, having hosted a fundraiser for Trump in 2020 and allied himself with Tesla CEO Elon Musk, who appeared at Trump’s inauguration on Monday after advising him for months.

Oracle is also the cloud infrastructure provider for TikTok, which went dark over the weekend in response to a law passed by Congress and signed by former President Joe Biden. TikTok said it was restoring service to U.S. users starting Sunday night.

Last year Oracle picked up cloud business from artificial intelligence startup OpenAI, which needs large numbers of Nvidia graphics processing units to train and run AI models for its ChatGPT assistant and other products.

WATCH: Oracle and C3.ai both came into their earnings reports hot, says Jim Cramer

Oracle and C3.ai both came into their earnings reports hot, says Jim Cramer



Source

Rocket maker Firefly Aerospace files to go public under ticker FLY
Technology

Rocket maker Firefly Aerospace files to go public under ticker FLY

Firefly Aerospace CEO Jason Kim sits for an interview at the Firefly Aerospace mission operations center in Leander, Texas, on July 9, 2025. Sergio Flores | Reuters Rocket maker Firefly Aerospace filed for an initial public offering on Friday, with plans to trade under the ticker symbol “FLY” on the Nasdaq. Firefly’s planned offering comes […]

Read More
Robinhood is up 160% this year, but several obstacles are ahead
Technology

Robinhood is up 160% this year, but several obstacles are ahead

Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks. Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower. The reversal came after a Bloomberg report that JPMorgan plans […]

Read More
Bill Gates says Trump’s cuts to USAID are devastating: ‘It’s not too late to reverse them’
Technology

Bill Gates says Trump’s cuts to USAID are devastating: ‘It’s not too late to reverse them’

Bill Gates speaks with Reuters during an interview in New York City, U.S., May 8, 2025. Mike Segar | Reuters Bill Gates, the philanthropist and Microsoft co-founder, on Friday said it’s not too late to reinstate international aid funding that President Donald Trump cut off. The Trump administration placed staff members at the U.S. Agency […]

Read More