Tech Stocks Surge Amid Global AI Investment Plans

Global shares climbed as technology stocks rose after President Trump announced significant AI infrastructure spending. A joint venture between OpenAI, SoftBank, and Oracle will invest $500 billion in AI data centers. European shares rose despite tariff threats, while the dollar hit a two-week low.

Global shares experienced a boost on Wednesday, notably driven by impressive gains in technology stocks. This uptick followed U.S. President Donald Trump's announcement of a substantial $500 billion investment in artificial intelligence infrastructure, proposed by a joint venture between OpenAI, SoftBank, and Oracle, leading to a positive reaction in stock markets.

The surge in shares was marked by a significant 10.6% increase for SoftBank in Tokyo and a 7.6% rise for Oracle on Wall Street. This momentum was reflected across indices with the tech-dominated Nasdaq gaining 1.3%, S&P 500 edging up 0.6%, and the Dow Jones Industrial Average increasing by 0.3%.

In Europe, anticipation of American tariffs did not deter growth, with markets relieved as threatened levies were not enacted immediately. European infrastructure stocks particularly benefitted from the AI investment push, signaling a cautiously optimistic market sentiment.

(With inputs from agencies.)