Oracle stock surged more than 5% on Wednesday after the software giant revealed that OpenAI will lease roughly 4.5 gigawatts of U.S. data?center power under its Stargate infrastructure project. Under the agreement,

Oracle's (NYSE:ORCL) expanded role in the Stargate Project reinforces BNP Paribas Exane's belief that hyperscalers remain of the best ways for investors to take advantage of the rapid rise of artificial intelligence.

OpenAI has agreed to rent a massive amount of computing power from Oracle Corp. data centers as part of its Stargate initiative, underscoring the intense requirements for cutting-edge artificial intelligence products.