SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

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.

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

The $500B Stargate Initiative, led by Trump, OpenAI, SoftBank, and Oracle, is set to revolutionize U.S. AI infrastructure.

OpenAI, Softbank and Oracle will join forces to create Stargate, a new company investing $500 billion in AI infrastructure. President Donald Trump said of the investment: “A resounding

SoftBank Group Corp. (TYO:9984) and OpenAI have each pledged $19 billion to Stargate, a groundbreaking technology initiative focused on AI data centers, The Information reports. OpenAI and SoftBank will each hold a

The ChatGPT maker will hold a 40% interest in Stargate, and would act as an extension of OpenAI, the report said, citing OpenAI CEO Sam Altman speaking to colleagues. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment.

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.