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 past few years have been undeniably profitable for Nvidia ( NVDA 4.43%) investors. The stock price has surged more than sevenfold over the past two years, and today, it topped the charts as the world's most valuable company in terms of market cap. The stock was up as much as 4.7% Wednesday morning. At 12:32 p.m. ET, the stock was still up 4.1%.

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As Donald Trump begins his second presidential term, market participants’ clamor for the “Trump Trade” is growing stronger. Marked by expectations around deregulation, tax cuts, infrastructure spending,

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

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Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged. Companies such as Oracle Corp.

The new agreement “includes changes to the exclusivity on new capacity, moving to a model where Microsoft has a right of first refusal (ROFR),” Microsoft says. “To further support OpenAI, Microsoft has approved OpenAI’s ability to build additional capacity, primarily for research and training of models.”

Microsoft will no longer be the exclusive provider of new cloud computing capacity to OpenAI — a new twist in their relationship that clears the way for OpenAI to work with Oracle and others on the $500 billion Stargate AI project announced by the companies Tuesday with President Trump at the White House.

Chip stocks including Nvidia and Arm fell Thursday after an Nvidia supplier, SK Hynix, spoke about uncertainty in semiconductor demand in 2025 on its earnings call.

At a White House press conference, Trump was flanked by the companies' top brass as he hyped up Stargate by proclaiming that it will cement the