Global Tech Stocks Surge Amid AI Investment Boost

Global shares experienced a significant uptick, driven by tech stocks, after President Trump's announcement of a major AI infrastructure investment initiative. This joint venture involves OpenAI, SoftBank, and Oracle. While European shares also rose, the U.S. dollar reached a two-week low due to delayed tariffs.

In a notable boost for technology stocks, global shares rose on Wednesday. This surge follows President Donald Trump's announcement of substantial spending plans for artificial intelligence infrastructure. The plan involves a joint venture, including OpenAI, SoftBank, and Oracle, proposing an investment of up to $500 billion for developing AI data centers.

This announcement catalyzed a 10.6% increase in SoftBank shares in Tokyo and a 7.1% gain for Oracle on Wall Street, lifting the Nasdaq by 1.3%. The S&P 500 rose 0.7%, while the Dow Jones added 0.2%. Despite nearing record highs, investors believe stock markets might climb higher, driven by corporate earnings.

European shares rose despite threats of U.S. import tariffs, with Trump focusing on domestic issues and AI investment. In Asia, Japan's Nikkei 225 increased due to SoftBank's significant share rise. The U.S. dollar dropped to a two-week low, influenced by postponed tariffs, while oil prices declined in response to Trump's energy production plans.

(With inputs from agencies.)