Oracle shares jumped nearly 9% in premarket trading Wednesday, after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank.

The joint venture, called Stargate, plans to invest $500 billion to help the United States stay ahead of China and other rivals in the global AI race, Trump said at the White House on Tuesday.

The venture plans to deploy $100 billion immediately, with the remaining investment occurring over the next four years. Construction of the project's first data centers has already begun in Texas.

Nvidia will supply chips for the venture, pushing the chip giant's stock up 2.4%. Other "technology partners" also gained, with Microsoft up 1.5% and Arm climbing 5.4%.

"We believe this is the start of a wave of massive AI investments to take place in the U.S. as we expect more big tech players to make announcements over the coming weeks," said Wedbush analyst Dan Ives.

AI consumes vast amounts of energy to drive its immense computing power, boosting the demand for specialized data centers and electricity needed to power them.

That boosted shares of nuclear power company Vistra by 4.2%. Over the past 12 months, the company's shares have surged more than fourfold, partly due to data centers' increasing demand for clean, sustainable energy.

Shares of AI server makers also gained, with Dell Technologies up 3.4% and Super Micro Computer rising 3.3%. Among other stocks, AI data analytics firm Palantir Technologies gained 2.1%.

Oracle shares closed 7% higher on Tuesday, boosted by reports of the joint venture.