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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President Donald Trump on Tuesday announced a new $500 billion, private sector investment to build artificial intelligence infrastructure in the US, with Oracle (ORCL), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank (9984.
TikTok said Sunday it was beginning to restore service for US users after going dark overnight following a new law that effectively banned the app.
Oracle stock trades at a price-to-earnings ratio (P/E) of 40.5, which is a slight premium to the average P/E of Microsoft, Amazon, and Alphabet (36.7). They are three of the biggest operators of AI data center infrastructure besides Oracle:
TikTok began going dark for US users late Saturday night, a little more than an hour before a new law banning the app was set to take effect.