Excitement for the announcement of stargate, 500 billion joint venture announced by Trump With the goal of building key infrastructure for the development of artificial intelligence, it has struck a chord with many investors. All the “mistakes” in the name Mgx, a United Arab Emirates-based investment fund that was among the first to finance Stargate, caused confusion among investors who bought large shares of the company with the same code. . But the company that has really seen the stock market boom is Metagenomi Inc., which is active in the biotechnology sector and specializes in genome editing.
The company that earned +33% in the stock market
A classic case of symmetry, leading to the actions of However The metagenomics. (known in the stock exchange with the code Mgx) on the jump 33% In a single day, before they stabilized at a still astonishing +8.7%. By that time, the company had seen a decline of 67% in the last twelve months and 24% in the previous six. A sensational result, for a company that has nothing to do with projects directly connected to artificial intelligence.
The company is active in the field of biotechnology specializing in genome editing, a type of genetic engineering in which segments of DNA are inserted, deleted, modified or modified to alter the genetic makeup of an organism or a cell. Changed by inheritance. Last week, the company said it was working to start clinical trials of the experimental hemophilia A treatment in 2026.
The confusion began after it was announced that Mgx would join OpenAI, SoftBank and Oracle in a new project backed by US President Donald Trump. However, Mgx is a UAE-based technology fund and thus is not listed on the stock exchange.
What is Stargate?
Even with this constraint, the creation of Stargate It attracted many people. It was launched by President Donald Trump himself along with OpenAI’s Sam Altman, SoftBank’s Masayoshi Son and Oracle’s Larry Ellison with the ambitious goal of building the largest artificial intelligence infrastructure ever built. The operation involves an initial investment of $100 billion, which will grow to $500 billion in the coming years, creating 100,000 new jobs, building data centers across the country and the next generation of artificial intelligence products. Includes support for the development of Intelligence
Stargate has big names behind it. SoftBank will finance the project, OpenAI will manage operations, and Oracle will provide its data center expertise, while Mgx, which is right, will be one of the initial equity backers. The first project, a data center of more than 300 thousand square meters in Texas, is already under construction.
Because Musk doesn’t like it.
But the 500 billion project could cause the first rift between Elon Musk and Donald Trump. The South African entrepreneur did not take kindly to the US President’s move and criticized OpenAI, claiming that Softbank Less than $10 billion Bail was granted, declaring that they had “substantial evidence” on this.
They think differently. Altmanwho called Stargate “the most important project of our time” and Trump, who considered it “the largest artificial intelligence infrastructure project in history”.
