- Worldcoin (WLD) surged 25% to US$2.40 after President Trump announced the US$500 billion Stargate Project.
- The project, supported by OpenAI, SoftBank, Oracle and MGX, aims to create thousands of jobs and strengthen US AI leadership.
- AI-related tokens and stocks, including Aixbt (AIXBT), Orbit (GRIFT), Nvidia, and Oracle, also saw significant gains.
The price of Worldcoin (WLD) surged by 25% on Wednesday, reaching US$2.40 (AU$3.82), after President Donald Trump announced plans for a US$500B (AU$796B) AI investment initiative involving OpenAI.
To be clear, Trump’s government did not invest US$500B, but rather introduced and endorsed the project during a press conference on Tuesday, calling it “the largest AI infrastructure endeavor in history”.
Trump’s announcement caused a spike in AI-related tokens, such as Aixbt (AIXBT), a Virtuals Protocol AI agent that surged 14% from yesterday, and Orbit ORBIT (GRIFT), a decentralised AI protocol on Ethereum that surged over 24%, according to CoinGecko.
The news disrupted weeks of low interest in AI tokens, mostly due to the overwhelming hype surrounding Trump-related tokens. But the wave extended beyond crypto, with Nvidia’s stock rising 4% to US$146 (AU$232) and Oracle’s stock climbing 6% to US$183 (AU$291), as per data from Google Finance.
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Stargate to Build US AI Infrastructure
The Stargate Project is a new initiative focused on building AI infrastructure in the United States, and the government has plans to invest US$500 billion over the next four years. An initial US$100 billion will be deployed immediately.
As per OpenAI’s official announcement, the initiative would “create thousands of jobs” and “generate massive economic benefit for the entire world”:
This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world. This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies.
OpenAIBesides OpenAI, some of the key equity funders for Stargate include SoftBank, Oracle and MGX. With SoftBank taking financial responsibility and OpenAI managing operations. Masayoshi Son, SoftBank’s CEO, will serve as the project’s chairman.
That’s not all: the project includes technology partners such as Arm, Microsoft, and NVIDIA. All in all, the data centers and related infrastructure have already begun to be built in Texas at the time of this article, but additional exploration is underway for campus locations nationwide.
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