Shares of Dell Technologies Inc. (DELL) surged over 5% in pre-market trading on Wednesday, following an announcement by President Donald Trump that the company will be part of a major $500 billion joint venture to invest in artificial intelligence (AI) infrastructure in the United States.
The initiative, called Stargate, is a collaboration between Oracle, OpenAI, and SoftBank Group. It aims to construct data centers and other infrastructure projects to support the development and deployment of AI technology, keeping the U.S. competitive in the global AI race.
According to Trump, Dell Technologies will supply servers for the Stargate venture, which plans to immediately invest $100 billion with the remaining $400 billion to be deployed over the next four years. The first data centers are already under construction in Texas, with more locations planned across the country.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.