SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

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.

OpenAI, Oracle, and SoftBank will create a venture named Stargate, with President Trump calling it "the largest AI infrastructure project in history."

President Donald Trump talked up a joint venture investing up to $500 billion for infrastructure tied to AI by a new partnership formed by OpenAI, Oracle and SoftBank.

President Donald Trump is announcing investments worth up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank.

Neil Sahota, lead AI advisor to the U.N., joins 'Fox & Friends' to discuss President Donald Trump's efforts to bolster AI infrastructure in the U.S. with the newly announced Stargate project