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.

Oracle (ORCL) stock jumped 7% on Tuesday after a report said the company was set to be part of a $500 billion investment in AI infrastructure that will be announced by President Trump on Tuesday. CBS News reported Tuesday Trump is set announce a new private sector investment to build artificial intelligence infrastructure in the US,

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Lumen Technologies(NYSE: LUMN) stock is seeing strong bullish momentum in Wednesday's trading. The telecommunications company's share price was up 6.3% as of 3:20 p.m. ET. Meanwhile, the S&P 500 index was up 0.7%, and the Nasdaq Composite index was up 1.3%. The stock had been up as much as 11.3% earlier in the session.

Oracle's stock got a boost on Tuesday from reports about the Stargate initiative, and it closed up 7%. The formal announcement for the initiative - which featured Trump at the White House alongside OpenAI Chief Executive Sam Altman, Oracle co-founder Larry Ellison and SoftBank Group Chief Executive Masayoshi Son - came after the market's close.

TikTok went dark on Sunday for US users as a new law banning the app took effect at midnight. Users logging into TikTok were served with a message reading: "Sorry, TikTok isn't available right now."

TikTok said Sunday it was beginning to restore service for US users after going dark overnight following a new law that effectively banned the app.

President Donald Trump on Tuesday announced a new $500 billion, private sector investment to build artificial intelligence infrastructure in the US, with Oracle (ORCL), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank (9984.

Oracle (ORCL) stock jumped 7% on Tuesday — and continued its ascent in after-hours trading — as President Donald Trump announced it would be part of a $500 billion investment in AI infrastructure with other leading tech companies.

TikTok said Sunday it was beginning to restore service for US users after going dark overnight following a new law that effectively banned the app.

(Reuters) -President-elect Donald Trump is expected to grant TikTok more time to strike a deal after he returns to power on Monday as China has signaled it would be open to a deal to keep TikTok in the U.S. market.