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As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

Shares of Nvidia (NASDAQ: NVDA) and Vistra (NYSE: VST) have surged 860% and 700%, respectively, since the beginning of 2023. Both companies have benefited from the artificial intelligence (AI) boom despite operating in very different parts of the economy. Tepper sold 65,000 shares of Nvidia, reducing his position by 9%.

Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements.The shares were down 1.2% to $145.24 in early trading.

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

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 stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,