On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

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,

The venture involves OpenAI, Softbank, and Oracle, and starts with an investment of $100 billion. On the second day of his second presidency, Donald Trump announced the creation of a joint venture with OpenAI,

OpenAI, Oracle, SoftBank, and MGX are the lead partners in Stargate, according to OpenAI.

The project, which will be financially led by SoftBank and operationally by OpenAI, will see an immediate investment of $100 billion. Masayoshi Son will be the chairman of the company.

SoftBank Group Corp. and OpenAI each plan to commit $19 billion of capital to Stargate, the $100 billion US AI endeavor President Donald Trump unveiled this week, the Information reported.