Oracle's stock surges 8.51% after Trump announces $500B AI initiative, solidifying its role as a key AI provider. CEO Ellison's stake also rises.

President Donald Trump expressed openness to Tesla CEO Elon Musk or Oracle Chairman Larry Ellison acquiring TikTok.

Oracle stock jumped 6% on a report that Trump plans to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the US.

President Donald Trump announced the $500 billion Stargate Project in Texas to advance AI research, starting with a data center in Abilene.

Oracle (ORCL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday dismissed criticism from close ally Elon Musk about a $500 billion artificial intelligence project that Trump announced with great fanfare at the White House earlier this week.

U.S. President Donald Trump said on Tuesday he was open to billionaire Elon Musk buying social media app TikTok if the Tesla CEO wanted to do so.

In addition to Trump, you can guarantee that virtually every tech company will mention AI revenue and spending. According to Jefferies analyst Brent Thill, Microsoft should report improved AI consumption and continued spending, something investors have been hoping for as the company works to meet customer demand for AI infrastructure.

Stocks closed solidly higher on Thursday for the fourth straight session as investor optimism about the Trump administration continues to run high.

The impact of this deal on the stock market has been quite bullish, especially for AI-related companies and those involved in the deal. Arm Holdings ( NASDAQ:ARM) is up over 12% since the deal and SoftBank is also up 12%. Oracle has gained 13%.

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