As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

Shares of Nvidia, Microsoft, Oracle, and other AI-related companies surged Wednesday after the Trump administration’s announcement of a $500 billion joint venture spurred optimism about a rising tide of AI investments.

The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.