President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project,

Meanwhile, a slew of other tech executives including Elon Musk, Jeff Bezos and Mark Zuckerberg are reportedly set to attend the events on Monday.

Nvidia CEO Jensen Huang Huang said he will be celebrating Lunar New Year with employees.

The Stargate Project announced at the White House plans to invest $500 billion; Elon Musk has already blasted the plan

President Donald Trump called Stargate, a new joint venture by OpenAI, Oracle, and SoftBank, "the largest AI infrastructure project in history."

The Stargate project outlines a commitment to spend $500 billion over the next four years to develop advanced AI infrastructure primarily across the United States.

AI initiative Stargate, backed by Oracle, OpenAI, and SoftBank, will focus on infrastructure, starting with data centers in Texas.

The S&P 500 climbed to 6,100 for the first time during Wednesday's session. Traders cheered strong earnings and an AI initiative Trump announced on Tuesday.

OpenAI, SoftBank and Oracle plan a joint venture called Stargate, and have committed $100 billion initially and then up to $500 billion into Stargate over the next four years.

Nvidia CEO Jensen Huang will reportedly won't attend US President-elect Donald Trump's inauguration on January 20 that will take place in Washington DC. Nvidia ranks into world's most valuable company with a market value exceeding $3 trillion.

One of President Donald Trump’s first announcements has been Stargate, a new joint venture designed to unlock up to $US500 billion ($800 billion) in private sector investment to fund AI infrastructure,