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

Oracle (ORCL) stock closed up by more than 7% on Tuesday amid reports of a joint venture with OpenAI and Softbank (SFTBY).

US President Donald Trump announced that OpenAI, Softbank and Oracle (ORCL.US) will form a joint venture called Stargate with the goal of building AI infrastructure in the US, CBS reported. Trump said that he hopes to retain AI projects within the US and that the US must build power and other facilities swiftly,