Shares of Oracle ( ORCL -1.54%) flew higher this week. The firm's stock gained 14% as of 4:20 p.m. ET, but was up as much as 17.4% earlier in the week. The surge comes as the S&P 500 ( ^GSPC -0.29%) and Nasdaq Composite ( ^IXIC -0.50%) were up 1.7% and 1.6%, respectively.

Yesterday the world of AI and stocks in the sector changed as President Donald Trump announced the formation of Stargate , a new $500 billion joint venture deal to build artificial intelligence infrastructure in the US, with Oracle ( NYSE:ORCL ), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank all at the table ..

Shares of Oracle ( ORCL 6.75%) 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.

After the bipartisan TikTok law was signed by former President Joe Biden in April, ByteDance said it did not have plans to sell the platform and fought the statute in court for months. China also rebuked Washington over the divestment push, though more recently it appears to be softening its stance.

President Donald Trump said he is open to Elon Musk or Oracle (ORCL) Chairman Larry Ellison purchasing TikTok as part of a joint venture with

President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure. OpenAI, SoftBank (9984.T), and Oracle (

Challenges came in tandem with TikTok’s success. U.S. officials expressed concerns about the company’s roots and ownership, pointing to laws in China that require Chinese companies to hand over data requested by the government. Another concern became the proprietary algorithm that populates what users see on the app.

MrBeast, the internet’s most-followed and highest-earning content creator, has joined a new bid to buy TikTok. Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpWhat LA’s Fires Mean for the City’s Housing ShortageDeadly Landslide of Garbage Displays Uganda's Missed OpportunityLA Schools Wrecked by Fires Plead on GoFundMe for Help to ReopenThe YouTube star,

President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure.

Oracle on Tuesday released a new set of artificial intelligence agents to help salespeople with a range of tasks around dealing with customers.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank .

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