Shares of Dell Technologies Inc. (DELL) soared 6.7% in the pre-market trading session on Wednesday, following President Donald Trump's announcement of a major $500 billion joint venture called Stargate to invest in artificial intelligence (AI) infrastructure in the United States.

The Stargate initiative is a collaboration between tech giants Oracle, OpenAI, and SoftBank Group, aimed at constructing data centers and other infrastructure projects to support the development and deployment of AI technology. Dell Technologies will supply servers for the venture, which plans to immediately invest $100 billion with the remaining $400 billion to be deployed over the next four years.

The announcement boosted the stock prices of various tech companies involved in the AI sector. Dell's shares surged as the company is expected to benefit from increased demand for its servers and other hardware to power the AI infrastructure. Other beneficiaries include chipmaker Nvidia, which will supply chips for the venture, and Microsoft, which will likely provide cloud computing services.