Shares in artificial intelligence data-center companies fell Thursday—the president’s $500 billion spending drive might raise more questions than answers.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank.

Shares of Austin, Texas-based Oracle Corp. (ORCL) are on track to open at their highest level since early December after the company joined an OpenAI-led artificial intelligence (AI) joint venture named Stargate,

Oracle Corp. has charged out of the gate in 2025, after its best year in a quarter-century. A plan unveiled with President Donald Trump has intensified hopes that its cloud business will see a tailwind from artificial intelligence.

OpenAI, SoftBank (9984.T), and Oracle (ORCL.N) will form a joint venture called Stargate, with a plan to invest $500 billion, Trump said at the White House. Trump said he will help facilitate the project with emergency orders.

The joint venture, called Stargate, plans to invest $500 billion to help the United States stay ahead of China and other rivals in the global AI race, Trump said at the White House on Tuesday.

Stargate is supposed to spend $500 billion on AI infrastructure, President Trump said. But Elon Musk suggested that the venture had much less cash.

Shortly after President Donald Trump announced a new massive AI infrastructure investment from the White House, “First Buddy” Elon Musk tried to tear it down.

Musk slammed a Trump-backed $500 billion AI joint venture building out OpenAI’s artificial general intelligence.

Elon Musk is clashing with OpenAI CEO Sam Altman over the Stargate artificial intelligence infrastructure project touted by President Donald Trump, the latest in a feud between the two billionaires th