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Washington, D.C., January 22, 2025 Oracle Corporation (NYSE:ORCL) stock increased by 5.7% on market opening today following the announcement of President Donald Trump's ambitious Stargate AI initiative which promises $500 billion for AI infrastructure development while building AI dominance in the U.S. and generating over 100,000 American jobs.
The Stargate AI initiative involves OpenAI, SoftBank Group Corp., and Oracle. The initial phase will involve a $100 billion investment, with plans to scale up to $500 billion over the next four years. The project aims to establish next-generation data centers and AI development centers throughout the nation with Texas already seeing significant activity. The Stargate AI initiative will become an economic stimulus to create larger work opportunities for Americans.
This article first appeared on GuruFocus.
