Microsoft (NASDAQ:MSFT), and Arm Holdings (NASDAQ:ARM) rallied after announcing a groundbreaking $500 billion artificial intelligence initiative with OpenAI. The
Investing.com-- Shares of cloud computing firm Oracle (NYSE: ORCL) rose sharply on Tuesday, while those of Nvidia (NASDAQ: NVDA) and Microsoft (NASDAQ: MSFT) also advanced after the companies entered a $500 billion artificial intelligence venture with OpenAI.
President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.
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.
Larry Ellison unveiled plans for an AI-driven cancer vaccine system that could deliver personalized treatments within 48 hours.
Nvidia (NVDA) has solidified its position as a leader in the technology industry, especially within the semiconductor space. No other semiconductor company has experienced growth as explosive as Nvidia’s.
AI initiative Stargate, backed by Oracle, OpenAI, and SoftBank, will focus on infrastructure, starting with data centers in Texas.
OpenAI has announced that it's teaming up with Softbank and Oracle on $100 billion data center project in the U.S.
Oracle (ORCL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Microsoft said it has "revenue sharing agreements that flow both ways" with OpenAI. "The key elements of our partnership remain in place for the duration of our contract through 2030, with our access to OpenAI’s IP, our revenue sharing arrangements and our exclusivity on OpenAI’s APIs all continuing forward," Microsoft said.
Shares of Oracle ( ORCL 7.17%) are on the move today. The firm's stock is up 5.7% as of 1 p.m. ET. The leg up comes as the S&P 500 ( ^GSPC 0.88%) and Nasdaq Composite ( ^IXIC 0.64%) gained 0.6% and 0.3%, respectively.