Tech Stocks Surge as Trump Unveils AI Infrastructure Plan

Global shares climbed as technology stocks rose following U.S. President Donald Trump's AI infrastructure spending announcement. This move saw SoftBank and Oracle shares surge, boosting markets worldwide, despite concerns over U.S. tariffs on Europe. The dollar fell to a two-week low amid postponed tariffs.

Global markets saw a boost on Wednesday, led by a rise in technology stocks. This came after U.S. President Donald Trump outlined substantial plans for AI infrastructure investment, causing the dollar to slip amid tariff delays.

Trump's declaration prompted a consortium of OpenAI, SoftBank, and Oracle to invest $500 billion in data AI centers. This announcement saw SoftBank shares soar by 10.6% in Tokyo and Oracle rise by 8.5% on Wall Street. Subsequently, the tech-heavy Nasdaq experienced a 1% lift.

Despite threats of U.S. tariffs on the European Union, stocks in Europe remained strong, with the pan-continental STOXX 600 reaching a record level. Asia's markets exhibited mixed results, with Japanese shares climbing due to gains in SoftBank.

(With inputs from agencies.)