The Trump Administration has announced an AI infrastructure joint venture in the U.S. named “Stargate,” comprised of OpenAI, SoftBank Group (OTC:SFTBF) (OTC:SFTBY), Oracle Corp (NYSE:ORCL), and Abu Dhabi’s MGX.

MGX stock is soaring Wednesday on the heels of the company’s involvement with OpenAI and SoftBank’s (SFTBY) new Stargate project. There’s just one minor problem — it’s the stock ticker for the wrong MGX.

Yesterday the world of AI and stocks in the sector changed as President Donald Trump announced the formation of Stargate , a new $500 billion joint venture deal to build artificial intelligence infrastructure in the US, with Oracle ( NYSE:ORCL ), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank all at the table ..

Microsoft on Tuesday said it has changed some key terms of a deal with OpenAI after the ChatGPT creator announced a joint venture with Oracle and Japan's SoftBank Group to build up to $500 billion of new AI data centers in the United States.

President Donald Trump has announced a new 'Stargate' initiative focused on expanding artificial intelligence data center infrastructure across the United States. The venture includes partnerships with major tech players like OpenAI,

Larry Ellison unveiled plans for an AI-driven cancer vaccine system that could deliver personalized treatments within 48 hours.

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Oracle stock jumped 6% on a report that Trump plans to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the US.

Oracle Corporation (NYSE:ORCL) shares are trading higher premarket on Wednesday. On Tuesday, the company disclosed new AI agents and generative AI features in Oracle Fusion Cloud Sales to enhance sales engagement and streamline processes.

The Trump administration will ease the way for OpenAI, Oracle, MGX, and SoftBank to build a generative AI computing system.

President Trump unveiled the AI initiative on Tuesday alongside the executives of OpenAI, Oracle and Softbank.