Oracle (ORCL) shares soared Wednesday for the second straight session as investors reacted to news that the enterprise software company will form a joint venture with OpenAI and Japan’s SoftBank to build artificial intelligence (AI) infrastructure.
The initiative, named Stargate, is expected to involve investments of as much as $500 billion over the next four years, as the project aims to bolster American AI leadership and create thousands of U.S. jobs. Reports of the JV surfaced early Tuesday, which gave Oracle a boost yesterday, and were confirmed by President Donald Trump at a White House event last night with executives from the three companies.
Oracle shares were up 7.5% at around $185.50 in afternoon trading Wednesday, adding to yesterday’s 7% gain. The stock has risen nearly 70% over the past year, supported by growing demand for the company’s AI-integrated cloud and database offerings.
Below, we break down the technicalson Oracle’s chart and identify crucial …