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Shares of Oracle (NYSE: ORCL) flew higher this week. The firm's stock gained 14% as of 4:20 p.m. ET, but was up as much as 17.4% earlier in the week. The surge comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 1.7% and 1.6%, respectively.

Oracle is a featured player in President Trump's new artificial intelligence (AI) infrastructure initiative, Project Stargate, and also benefited from developments regarding the TikTok ban.

Project Stargate will bring billions of dollars to American AI

Select members from the AI industry, including Oracle chief Larry Ellison, were present at the White House as President Trump announced his new program. Project Stargate will include an influx of $500 billion in private investment -- primarily from SoftBank -- directed at increasing domestic AI infrastructure.

As evidenced by Ellison's presence during the announcement, Oracle will play a central role as the program launches. Investors were pleased, sending Oracle stock higher this week.

A reprieve in the TikTok saga

President Trump took further action that helped Oracle, signing an executive order that directs the attorney general to not enforce a federal ban on TikTok. The federal ban, which cleared Congress, had just also been given the green light by the Supreme Court after the ban was challenged. Trump's action pauses enforcement of the ban for 75 days. It's unclear whether he has the power to do so, but for now, TikTok lives on in the U.S.

As the primary cloud provider for TikTok, Oracle's bottom line is directly tied to TikTok's fate. The eleventh-hour move by President Trump helped boost Oracle stock, as investors hope for a permanent resolution that keeps TikTok active in the U.S.

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