Major stock indexes in the United States opened higher on Wednesday, buoyed by investor enthusiasm over artificial intelligence initiatives and corporate earnings of firms like Netflix. United States President Donald Trump announced a $500 billion AI infrastructure project named Stargate. OpenAI CEO Sam Altman praised the ambitious venture.
The announcement sent ripples across tech stocks, with Oracle surging 10% in premarket trading and Nvidia climbing 3.30%. Both companies are seen as beneficiaries of increased AI infrastructure spending.
At 9:30 am ET, the Dow Jones Industrial Average jumped by 0.29% or 128 points as The Travelers Companies Inc. rose 4.51%. The Nasdaq 100 gained 0.92% with Netflix Inc. increasing 13.30%. The S&P 500 went 0.52% up as Oracle Corp. soared 9.88%. The euro traded flat against the dollar at 9:28 am ET to sell for $1.04231.
