On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

Nvidia (NVDA) stock jumped more than 4% Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project. The project creates a company called Stargate,

Nvidia stock was rising alongside rival chip makers on the first trading day of Trump’s second presidency. In his first hours back in the Oval Office, the president revoked an order on artificial intelligence signed by his predecessor Joe Biden,