Oracle's stock surges 8.51% after Trump announces $500B AI initiative, solidifying its role as a key AI provider. CEO Ellison's stake also rises.

Oracle (ORCL) stock jumped 7% on Tuesday after a report said the company was set to be part of a $500 billion investment in AI infrastructure that will be announced by President Trump on Tuesday. CBS News reported Tuesday Trump is set announce a new private sector investment to build artificial intelligence infrastructure in the US,

Oracle (ORCL) stock jumped 7% on Tuesday — and continued its ascent in after-hours trading — as President Donald Trump announced it would be part of a $500 billion investment in AI infrastructure with other leading tech companies.

Lumen Technologies(NYSE: LUMN) stock is seeing strong bullish momentum in Wednesday's trading. The telecommunications company's share price was up 6.3% as of 3:20 p.m. ET. Meanwhile, the S&P 500 index was up 0.7%, and the Nasdaq Composite index was up 1.3%. The stock had been up as much as 11.3% earlier in the session.

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US President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence (AI) led by Japan’s Softbank Group Corp, cloud giant Oracle Corp and ChatGPT-maker OpenAI.