Why Oracle Stock Is Skyrocketing Today

Shares of Oracle (NYSE: ORCL) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.Oracle is at the heart of Project Stargate, the new artificial intelligence (AI) initiative announced by President Trump on Tuesday. The company is also benefiting from recent developments in the TikTok ban saga.One of the more high-profile initiatives that came out of the last two days, Project Stargate will pour billions of dollars into AI infrastructure in order to keep America's edge in the potent technology. The program, coordinated by Trump's team, will include $500 billion in private investment between Softbank, OpenAI, and Oracle. Oracle's CEO, Larry Ellison, was present at the announcement.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool