People are buying the wrong stock thinking it's part of OpenAI's Stargate Project

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President Donald Trump was joined by leaders at Oracle, OpenAI, and SoftBank to announce the Stargate Project, a planned $500 billion venture to invest in artificial intelligence infrastructure. - ...

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MGX stock is soaring Wednesday on the heels of the company’s involvement with OpenAI and SoftBank’s  new Stargate project. There’s just one minor problem — it’s the stock ticker for the wrong MGX.The likely misunderstanding propelled Metagenomi stock up by as much as 33% on Wednesday before gains were pared back down to a 25% increase. Shares are down 67% for the last 12 months and 24% over the last six months.As for Stargate, the project is expected to be a major boost to the U.S. economy and OpenAI, according to the people backing it. President Donald Trump, who was joined by OpenAI’s Sam Altman, SoftBank’s Masayoshi Son, and Oracle’s  Larry Ellison at the White House — said it would generate more than 100,000 jobs.Musk, an OpenAI co-founder who left the startup and h","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","NVD2.UK":"2X NVIDIA ETP","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF","NVD3.UK":"LS 3X NVIDIA","SNVD.UK":"LS -1X NVIDIA","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","ORCL":"甲骨文","NVDS.UK":"LS -1X NVIDIA","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","2NVD.UK":"2X NVIDIA ETP","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","BK4526":"热门中概股","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0238689110.USD":"贝莱德环球动力股票基金","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","09988":"阿里巴巴-W","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","03160":"华夏日股对冲","BK4592":"伊斯兰概念","NVD":"GraniteShares 2x Short NVDA Daily ETF","BABA":"阿里巴巴","MSFT":"微软","NVDD":"Direxion Daily NVDA Bear 1X Shares","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","TSYW.SI":"TESLA 3xLongSG261006","BK4567":"ESG概念","NVDA":"英伟达","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","NVIW.SI":"NVDA 3xLongSG261006","MGX":"Metagenomi Technologies, LLC","3NVD.UK":"LS 3X NVIDIA","LU0879622024.SGD":"Schroder ISF Global Multi-Asset Income A Dis SGD-H","TSLA":"特斯拉","NVDS":"Tradr 1.5X Short NVDA Daily ETF","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","SFTBF":"Softbank Group Corp","NVDU":"Direxion Daily NVDA Bull 2X Shares","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC","SFTBY":"软银集团","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC"},"translate_title":"人们买错了股票，以为它是OpenAI星际之门项目的一部分","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"BABA":1,"SFTBY":1,"ORCL":1,"MSFT":1,"NVDA":1,"SFTBF":0.9,"MGX":0.9,"NVDU":0.6,"NVD":0.6,"NVD2.UK":0.6,"NVD3.UK":0.6,"NVDD":0.6,"NVDS":0.6,"NVDS.UK":0.6,"NVDX":0.6,"NVDY":0.6,"NVIW.SI":0.6,"SNVD.UK":0.6,"TSYW.SI":0.6,"09988":0.6,"2NVD.UK":0.6,"3NVD.UK":0.6,"03160":0.6},"content_text":"President Donald Trump was joined by leaders at Oracle, OpenAI, and SoftBank to announce the Stargate Project, a planned $500 billion venture to invest in artificial intelligence infrastructure. - Photo: Andrew Harnik (Getty Images)\n \n\nMGX stock is soaring Wednesday on the heels of the company’s involvement with OpenAI and SoftBank’s (SFTBY) new Stargate project. There’s just one minor problem — it’s the stock ticker for the wrong MGX.\nMGX represents shares of Metagenomi Inc., a biotechnology company focused on leveraging genome editing tools. Last week, the company said it is working on bringing its experimental treatment for hemophilia A to clinical trials in 2026.\nInvestors were likely confused by a press release announcing that MGX would be among the initial equity funders in the Stargate Project, which seeks to invest $500 billion over the next four years in new artificial intelligence infrastructure for OpenAI. The MGX referenced there is a technology fund based in the United Arab Emirates. \nThe likely misunderstanding propelled Metagenomi stock up by as much as 33% on Wednesday before gains were pared back down to a 25% increase. Shares are down 67% for the last 12 months and 24% over the last six months. \nAs for Stargate, the project is expected to be a major boost to the U.S. economy and OpenAI, according to the people backing it. President Donald Trump, who was joined by OpenAI’s Sam Altman, SoftBank’s Masayoshi Son, and Oracle’s (ORCL) Larry Ellison at the White House — said it would generate more than 100,000 jobs. \nThe group’s first project, a one-million-square-foot data project, is already underway in Texas. Although the backers plan to eventually spend $500 billion, the companies said they would deploy $100 billion “immediately.” \nStargate will be chaired by Son, whose SoftBank will have financial responsibility for the company, while OpenAI handles the operations. Those companies, along with Oracle and MGX, are the initial equity backers. SoftBank-backed Arm, Microsoft (MSFT), and Nvidia (NVDA) will work with Oracle and OpenAI on the technology.\nHowever, not everyone is fully on board with Stargate. \nAtreides Management Chief Investment Office Gavin Baker, who also noted the MGX mix-up, called the $500 billion “a ridiculous number” that “no one should take seriously” unless SoftBank sold their Arm and Alibaba (BABA) stock. \n“And I say all of this as someone who is really optimistic about AI in every way,” Baker added in a post on X. “Stargate is fiction wrapped around a much less impressive reality.”\nTesla (TSLA) CEO Elon Musk, a close ally of Trump’s with his own federal task force, agrees. In a series of posts late on Tuesday and early on Wednesday morning, Musk said he has it on “good authority” that SoftBank has less than $10 billion secured. \n“They don’t actually have the money,” Musk wrote on X, replying to an OpenAI post announcing Stargate. \nMusk, an OpenAI co-founder who left the startup and has a longstanding feud with Altman and the startup, also has his own AI company, xAI. His firm raised $6 billion at a $50 billion valuation. That cash is expected to help xAI expand its Colossus supercomputer in Memphis, which it developed with Nvidia chips. \n For the latest news, Facebook, Twitter and Instagram.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2505778479"}