AI Stargate

Shares of SoftBank surged up to 10.2% after President Trump announced a massive AI push involving SoftBank, OpenAI, and Oracle.

The "Stargate" joint venture plans to invest $100 billion immediately into US-based AI infrastructure, with additional backing from Microsoft, Nvidia, and others. The initiative aims to strengthen US leadership in the global AI race, using Nvidia chips and supported by a diverse group of investors, including UAE-based MGX. SoftBank CEO Masayoshi Son will chair the board of the new entity.

Microsoft will retain exclusive rights to OpenAI's API under a deal lasting through 2030, the collaboration enables OpenAI to partner with Oracle for AI data centers.