Nvidia (NVDA) stock jumped more than 4% Wednesday to help lead the tech sector and some chip stocks higher following Trump’s announcement of a massive, $500 billion AI infrastructure project. The project creates a company called Stargate,

Amid investor concerns, the Stargate project significantly boosted Nvidia’s future prospects. President Donald Trump’s announcement of Stargate has positioned Nvidia to benefit significantly from a $500 billion investment aimed at building advanced AI infrastructure in the U.S. over the next four years.

Nvidia stock rose early Wednesday after President Donald Trump sent another signal to markets that artificial intelligence would be a priority under his new administration. The absence of Nvidia CEO Jensen Huang at the inauguration Monday stuck out as Big Tech CEOs thronged to the event.