Software stock Oracle (ORCL) is powering the Nasdaq today amid news of its joint venture with SoftBank and OpenAI

Elon Musk is already casting doubt on OpenAI’s new, up to $500 billion investment deal with SoftBank (SFTBY) and Oracle (ORCL), despite backing from his allies — including President Donald Trump.

Oracle Corporation (NYSE:ORCL) shares are trading higher premarket on Wednesday. On Tuesday, the company disclosed new AI agents and generative AI features in Oracle Fusion Cloud Sales to enhance sales engagement and streamline processes.

Day two of Donald Trump's second presidency culminated in an announcement that OpenAI, SoftBank Group and Oracle (NYSE: ORCL) will form a venture called Stargate and invest $500 billion in AI infrastructure across the United States, though how much of that was already long planned is anyone's guess.

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.

Live Updates Make sure to refresh this page periodically for updates. Earnings to Watch Today 9:37 am Here are some earnings to watch this morning. We’ll provide updates on other market movers as the day progresses.

Tesla Inc. CEO Elon Musk cast doubt Wednesday on the ambitious $500 billion Project Stargate, hours after its announcement, claiming lead investor SoftBank Group SFTBY -0.36% + Free Alerts SFTBF + Free Alerts has “well under $10B secured.”

SoftBank CEO Masayoshi Son's plan to invest billions in AI in the United States shows one way to handle the new Trump administration: go big and deal with the details later.

U.S. stocks were rising on Wednesday morning with the major stock averages seeing their third day of gains as investors digested a slew of robust corporate earnings and President Donald Trump's new initiative on artificial intelligence.

The Cboe Options Exchange (CBOE) saw more than 2.4 million call contracts and over 1.1 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.46 and the 21-day moving average remained at 0.61.

Stocks are poised to open higher on Wednesday, extending a rally that has put major indexes within sight of record highs.