All-In with Chamath, Jason, Sacks & Friedberg - Winning the AI Race Part 5: President Trump on the AI Action Plan

Episode Date: July 24, 2025

(0:00) President Trump on the AI Agenda (54:14) Executive Order signing Thanks to our partners for making this happen: NYSE : https://www.nyse.com Visa: https://usa.visa.com Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

Ladies and gentlemen, the 45th and 47th President of the United States, Donald J. Trump. Stand up next to you when they met her still today Cause there ain't no doubt I love this land God bless the USA Thank you very much everybody What a great song that is but we'll cut it a little short because we have some business to discuss. And what a group of smart ones we have in front of me today. That's about as good as it comes up here.

The brain power, the greatest power of them all, the brain power. Well, I'm thrilled to be here with so many tech leaders and luminaries as we take historic action to reassert the future which belongs to America, always has belonged to America. We just lost sight of it on occasion. And I just want to start by stating that we've just concluded our big trade deal with Japan

and numerous other countries in addition, as you know. But on the Japan deal, because it was literally just signed, letter was just signed, it gives us a sort of signing bonus. I'll bring it into sports talk, a signing bonus. Like you have signing bonuses too, I understand. Getting a lot of money, 100 million, that's not bad. But that's not as good as the signing bonus we got. We got a $550 billion signing bonus for the country. We had the tariff at 25 percent. As you know, we had a tariff at 25 percent. And this was — these are great people that we negotiated with.

But we agreed to reduce it to 15, based on the fact that Japan has agreed for the first time ever to open up its country to trade so that all of our American businesses and business geniuses, including many in this room, can go out and do business openly and freely in Japan, a very rich and prosperous and profitable and wonderful country, frankly.

And we will pay a zero tariff as we do business in Japan. So we're paying zero, they're paying 15. We're getting $550 billion. And to be exact, it's 90% of that, but we control the whole lot of it. And it's really been great. And they're very happy. And their stock market went up,

and our stock market went up. And that's supposed to be the way it is. Ours went way up, and theirs went up and our stock market went up and that's supposed to be the way it is ours went way up and theirs went up. And we've made numerous other deals like that. But the opening up of a country is very important to us. We have numerous countries that have opened their doors, just made some incredible transactions, but we're going to have a very, very simple tariff for some of the countries. We have so many countries you can't negotiate deals with everyone,

so we'll have a straight, simple tariff of anywhere between 15 and 50 percent. A couple of we have 15 because we haven't been getting along with those countries too well, so we just say, let's pay 50. And that's the way it is. But remember, we get countries that were closed, always closed. Every one in this room would never remember any of them to be open. We've offered such a deal to the European Union where we're in serious negotiations. And if they agree to open up the Union to American businesses, then we will let them pay a lower tariff.

So the tariff is very important, but the opening of a country, I think, can be more important if our businesses do the job that they're supposed to be doing. Such openings are worthy of many points and tariffs and they're a good thing not only for as an example Japan or Europe but certainly a great thing for America because it allows our businesses to go out and fairly compete and do really well if they compete properly like the people that I know

every one of this room practically I know has competed very successfully. I haven't seen any, and I know the losers just like I know the winners. I don't see any of the losers here. But now if some of the countries that pay 25% or more on orders complain, remember that Japan was willing to pay upfront the $550 billion for that privilege of negotiating with the United States of America.

We also made a deal yesterday with the Philippines and Indonesia, which in both cases will be opening up their country. And we're in the process of completing our deal with China. And as you know, the UK, we made a deal. It was a very good deal for everybody. Everybody's happy. It's always nice when everybody can be happy. But mostly we'll be charging straight tariffs

to most of the rest of the world. Because we have over 200 countries people don't realize it's a lot of, that's a lot of deals Even if you're like me a deal junkie. That's a lot of deals. That would be too much for anybody who How did we do with this country that I never heard of We got a lot of we got a lot of deals cooking but America is Taking in hundreds of billions of dollars like it never has before, investments into our country at the highest point ever in history. And

we've just really been opened up for business for three of the six months. The first couple of months we got ourselves all set. Done a great job with our military, as you know. You saw that two weeks ago, when you saw the way those incredible B-2s flew into Iran and took out an entire nuclear potential deadly force. But I want to thank some of the incredible people that you see before me, including White House AI Czar, David Sacks.

He's been great for organizing this very important summit and especially for putting it in D.C. where it's a little bit easier. I don't know if it's easy for you, but it's a hell of a lot easier for me. Along with his colleagues at the All In podcast, which is very good. I did that podcast a year and a half ago, and I said, this is something, it was pretty new, pretty raw.

Everybody I knew saw that podcast. I said, well, he's got something pretty good. Who is that guy? He's a smart guy, by the way. I think if I ever get in, which at the time, people were saying I had a shot, not as good a shot as it turned out. We won in numbers that nobody believes.

We won every swing state. We won by millions and millions of votes, winning the popular vote. We won with the districts, as they would call them, 2,750 to 505. And that's why the map is almost completely red, except for a couple of little blue areas on each side of it. But it was a great experience, frankly, for me. And hopefully it's a great experience and been a great experience for our country, because they're saying we had the greatest six months that a president has ever had, the opening six months. And I'm not even sure, maybe six months.

I'm not sure it's the opening, but let's call it the opening six months. It sounds a little bit nicer. I want to also say hello and thank to Jamath and his wonderful wife, Nat. Thank you very much for being here. Thank you very much. It was great seeing you again. Great couple. David Friedberg and even, as we know, Jason Kalakanis.

I say even. Thank you, Jason. Thank you, Jason. I appreciate that. That is a good person. Thanks as well to the Hill and Valley Forum and our future Under Secretary of State, Jacob Helberg. Good to have you.

Stand up, Jason. I met him a year and a half ago, and I was very impressed. I said, let's bring him in. We're bringing a lot of smart people. And David's been unbelievable, as the job he's doing. Along with Secretaries Doug Burgum, who's been incredible. Doug. Thank you.

Thank you, Doug. Great job. He's producing low-cost energy. We're down to $64. I want to give you a round of applause. Thank you, Doug. Great job. He's producing low-cost energy. We're down to $64. I want to get it down a little bit further if we can. I don't know if the oil companies love that or not, but we want to have very inexpensive electricity so that you can power up the plants, because you need more electricity than any

human beings ever in the history of the world. When I heard what you really need, I said, you got to be kidding. Double what we produce right now for everything, right? I don't know, you're going to... Jensen, you're going to have to explain that to me someday, why they need so damn much. Could you do with a little bit less?

My father always used to say, turn off the lights, son. But you guys are turning up the lights. I want to thank Howard Lutnick for doing a terrific job. He was involved in the big deal that we just completed with Japan. Howard, wherever you are, Howard. Where is Howard? Hi, Howard.

Great job you did. Appreciate it. Really, that was an interesting negotiation, wasn't it? These are tough people. These are good negotiators, I will tell you, Howard. Great job you did. Appreciate it. Really, that was an interesting negotiation, wasn't it? These are tough people. These are good negotiators, I will tell you, Japan. But they love their country, and they do what's right for their country. I want to thank Chris Wright, if Chris is around. Chris is here because he's helping with the tremendous energy success that we're having.

We're having tremendous energy success. We're the biggest. We have more energy success. We're the biggest. We have more energy than anybody else in the world. Nobody knew that until I came along. But we have more energy than anybody else in the world. We're making incredible deals on energy, including deals in Alaska. We sort of, that's the mother lode. That's the big one.

And we're making deals with various Asian countries that need it. And it's actually hard to believe you don't think of it, but Asia is very close to Alaska, relatively speaking. It's not the closest, but it is pretty much the closest when it comes to oil and gas and energy. And we're making some incredible deals. And I want to thank Chris.

Chris is fantastic, works in partnership, really, with this gentleman who's the head of all of – you've got the land and he's got the energy, right? But you really – they formed a great partnership, Doug. So that's one of the greatest partnerships I've seen in a long time. They work hand in hand, and they have done a great job. Administrators – Kelly Loeffler, I think, is here. Kelly, thank you very much. Hi, Kelly. Thank you, Kelly Loeffler, I think is here. Kelly, thank you very much.

Hi, Kelly. Hi, Kelly. And probably the most important man in the room, and I say it in all sincerity, more important than Doug and Chris and all that energy they're producing. He's a man that produces vast permits on the environmental impact statements. He gets them done. I said, Lee, you have one week, one week for nuclear, and you have a couple of days for oil and gas, okay,

for the approvals. And we kid, but you know, he really is, he's knocking them out fast, he's knocked out a lot. A lot of you guys have started your plants already, and you've already had your approvals. So where's Lee Zeldin? Is he here? He is so great. This guy... He is so great.

That's why he has a slightly better seat than I gave to Doug, you see? Now, he's doing a fantastic job in a lot of ways, but he's doing a great job, and he's getting fast permits, and safe and good and everything else, but he's moving them along rapidly, already given some. And one of the most exciting things we'll talk about in a second is the fact that you're gonna build

your own electric producing plants when you build whatever you're building. And it could be, it's different things, including automobile factories, which are going up all over the place. You'll see them starting soon. They're moving into our country because of the tariffs, because they don't want to pay the tariffs. They're moving into our country at a record speed.

But the ability to build your own electric plant not having to rely on a 100-year-plus-old grid. And then if you have electric capacity extra, you're going to sell it into the grid, make some money, but you'll sell it right back into the grid. Director of the Office of Science and Technology Policy, Michael Kratios. Michael, thank you very much. Thank you, Michael.

As well, oh, it's supposed to be taking a vote right now. Big vote. Senator Ted Cruz. Is Senator Cruz here? Oh, look at my Senate. Why aren't you voting? I think we lost David McCormick, who's voting. So why aren't, is David here? Because you're supposed to be voting, Ted. I don't know. I'll tell you what, this man works hard.

Ted works hard and he works good. And a very special thanks to some of the top industry leaders here, including somebody that's amazing. I said, look, we'll break this guy up. This is before I learned the facts of life. I said, we'll break him up. They said, don't say he's very hard. I said, why?

I said, what percentages of the market does he have? Sir, he has 100%. I said, who the hell is he? What's his name? His name is Jensen Wong, NVIDIA. I said, what the hell is NVIDIA? I've never heard of it before. He said, you don't want to know about it, sir.

I figured we could go in and we could sort of break him up a little bit, get them a little competition, and I found out it's not easy in that business. I said, supposedly we put the greatest minds together, they work hand in hand for a couple of years. He said, no, it would take at least 10 years to catch him if he ran Nvidia totally incompetently from now on. So I said, all right, let's go on to the next one. And then I got to know Jensen, and now I see why.

Jensen, we used to end up, what a job. What a job you've done. Man. Great. It's a great, he's a great guy, too. Lisa Sue of AMD, Lisa. Lisa Su of AMD. Lisa. Lisa. Thank you.

Congratulations. Great job. Sham Sennikar of Palantir. We buy a lot of things from Palantir. Where are you? Are we paying our bills? I think so. We just made a deal with the European Union where they're going to pay the United States of America

100% of the cost of all military equipment. They're going to ship it to the European Union and then they'll distribute it and much of it will go to Ukraine. It's been a long time since you've heard those words, because we're in for $350 billion, but now we send it to Europe and Europe pays. And they were great. We had a tremendous NATO meeting a few weeks ago, and it was pretty amazing, actually, what happened. They agreed to go from 2 percent to 5 percent, and they had 2 percent where they didn't

pay, they have 5 percent where they've already paid. That's a big difference. That's trillions of dollars, actually, trillions. But they're gonna spend that money in the United States with our defense companies, and we're gonna send it to them, and they'll distribute the equipment that we send. So that's the way it should have been three years ago, frankly.

And Jeff Sprecher, the other half of that incredible family, is he here? Is he here? He's a fantastic guy, international, intercontinental exchange, and he's been a friend of mine for a long time, the husband of Kelly, who's really doing a good job. You are really doing a good job. Small business, which is actually big business, if you add it all up, right? Probably the biggest bank there is, but they call it small business and she's done a fantastic job. Thanks, Kel. Say hello to Jeff. As we gather this afternoon, we're still in the earliest days of one of the most important

technological revolutions in the history of the world. Around the globe everyone is talking about artificial intelligence. I find that too artificial. I can't stand it. I don't even like the name. I don't like anything that's artificial. So could we straighten that out, please? We should change the name.

I actually mean that. I don't like the name artificial anything because it's not artificial. It's genius. It's pure genius. And it's potential artificial, it's genius. It's pure genius. And it's potential to transform every type of human endeavor and domain of human knowledge from medicine to manufacturing to warfare and national defense. Whether we like it or not, we're suddenly engaged in a fast-paced competition to build

and define this groundbreaking technology that will determine so much about the future of civilization itself because of the genius and creativity of Silicon Valley. And it is incredible, incredible genius. Without question, the most brilliant place anywhere on Earth, America, is the country that started the AI race, and as president of the United States I'm here today to declare that America is

going to win it. We're going to work hard, we're going to win it. Because we will not allow any foreign nation to beat us. Our children will not live in a planet controlled by the algorithms of the adversaries, advancing values and interests contrary to our own. We don't want to have contrary interests. We want to get along. And we'll get along with other countries. We're having a great relationship, as I told you, with those countries that we mentioned with Japan and Indonesia and so many others. We're having a great relationship, as I told you, with those countries that we mentioned,

with Japan and Indonesia and so many others. The European Union, we're getting along. We're getting along very well with China. A lot of respect for President Xi. We have a great relationship. And we'll see how it all works out. But we're getting along with countries very – it's really been pretty amazing, I will say that, and it's a good thing.

It's a good thing, not a bad thing. So from this day forward, it'll be a policy of the United States to do whatever it takes to lead the world in artificial intelligence, such an important thing happening. This is really something that nobody expected. It just popped out of the, popped out of the air, and here we are.

But we will defend our nation, our values, our future, and our freedom, and it will be really great. But what we really need to be successful is a very simple phrase called common sense, and that begins with a common sense application of artificial and intellectual property rules. It's so important. You can't be expected to have a successful AI program when every single article, book, or anything else that you've read or studied, you're supposed to pay for. Gee, I read a book.

I'm supposed to pay somebody. And you know, we appreciate that, but you just can't do it because it's not doable. And if you're gonna try and do that, you're not gonna have a successful program. I think most of the people in the room know what I mean. When a person reads a book or an article, you've gained great knowledge. That does not mean that you're violating copyright laws

or have to make deals with every content provider. And that's a big thing that you're working on right now. I know, but you just can't do it. China's not doing it, and you're going to be beating China. And right now, we're leading China very substantially in AI, very, very substantially. And nobody's seen the amount of work that's going to be bursting upon the scene, but you have to be able to play by

the same set of rules. So when you have something, when you read something, and when it goes into this vast intelligence machine, we'll call it, you cannot expect to every time, every single time, say, oh, let's pay this one that much, let's pay this one. Just doesn't work that way. Of course, you can't copy or plagiarize an article, but if you read an article and learn from it, we have to allow AI to use that pool of knowledge

without going through the complexity of contract negotiations, of which there would be thousands for every time we use AI. We also have to have a single federal standard, not 50 different states regulating this industry of the future, and some people would say, gee, that's an unpopular thing to say. I was told before I got up here,

this is an unpopular thing because some people, they don't want that, but I want you to be successful. And you can't have one state holding you up. You can't have three or four states holding you up. You can't have a state with standards that are so high that it's gonna hold you up. You have to have a federal rule and regulation. Hopefully you'll have the right guy in this position

that's gonna... That's gonna supplant the states. If you are operating under 50 different sets of state laws, the most restrictive state of all will be the one that rules. So you could have a state run by a crazy governor, a governor that hates you, a governor that's not smart, or maybe a governor that's very smart, but decides that he doesn't like the industry and he can put you out of business because you're going to have to go to that lowest common denominator.

We need one common sense federal standard that supersedes all states, supersedes everybody so you don't end up in litigation with 43 states at one time. You got to go litigation free. That's the only way. And we also have to watch Europe, Asia, and all foreign countries so that they don't make rules and regulations that likewise make it impossible for you to do business and where you'd have to make everything in AI

cater to them. Because again, you'd have to cater to the toughest country or to the toughest state. You can't do that because it would ruin it. I just terminated all of the, as an example, California car emissions rules, which were a disaster. A disaster cost them just billions of dollars as an industry, but thousands of dollars per car, the emission rule standard,

because they were making the production of an automobile almost impossible and at a tremendously higher cost, much more expensive than it should cost, for very little gain, for actually, in my opinion, negative gain. The automobile was worse. Under this administration, our innovation will be unmatched and our capabilities will be unrivaled. And with the help of many of the people in this room, America's ultimate triumph will be absolutely unstoppable. We will be unstoppable as a nation. Again, we're way ahead and we want to stay that way.

We can't let individual smaller units stop it because that's the only thing that can stop it and can really mess it up. As with any such breakthrough, this technology brings the potential for bad as well as for good, for peril, as well as for progress. But the daunting power of AI is the, really it's not going to be a reason for retreat

from this new frontier. On the contrary, it is the more reason we must ensure. It is pioneered first and best. We have to have the best, the first pioneer. We are the best and the first pioneers, and we're going to be really putting a nation that we love, America, we're gonna be putting it first. I have an expression, America first,

make America great again. A lot of great expressions, but they're all so true. We're gonna make America great again. We're gonna make this industry absolutely the top because right now it's a beautiful baby that's born. We have to grow that baby and let that baby thrive. We can't stop it. We can't stop it with politics.

We can't stop it with foolish rules and even stupid rules. At the same time, we want to have rules, but they have to be smart. They have to be brilliant. They have to be more brilliant than even the technology itself. Surely there will be challenges on the path ahead, They have to be brilliant. They have to be more brilliant than even the technology itself. Surely there will be challenges on the path ahead, but together we will meet them and transcend them all.

We are Americans, and we are Americans first. I have a couple of people I know that don't happen to be from here, but I wish you a lot of luck, anyway. I'm just looking at three people that are not Americans, but very good people. Please treat them nicely. But we do not shrink from the future, or cower in the face of uncertainty. We dominate the future, we conquer new frontiers,

and we control our own fate, and we determine by doing that our own destiny. Winning this competition will be a test of our capacities unlike anything since the dawn of the space age. I believe that. It's hard to believe as the president the amount of enthusiasm for this one industry. I mean, I can talk about cars where we're doing incredibly well.

We have car companies moving in all the time. But I talk about other industries. Everybody's saying this is gonna dominate the world. It's gonna dominate every industry that ever conceived. I don't know if that's true. I don't know if it's true. But I can tell you that a lot of very brilliant people think it is true. It'll dominate everything.

It will challenge us to marshal all of our strength and flex the muscles of American ingenuity and resolve like probably never before. It will require us to blast through obsolete systems, cut through thickets of regulation. We've got to get rid of some of the regulation, but we want good regulation and rebuild the industrial bedrock of our country. And perhaps most importantly, winning the AI race will demand a new spirit of patriotism and national loyalty in Silicon Valley and long

beyond Silicon Valley. For too long, much of our tech industry pursued a radical globalism that left millions of Americans feeling distrustful and betrayed. And you know that. Everybody knows that. Everybody in this room certainly does. Many of our largest tech companies have reaped the blessings of American freedom while building their factories in China, hiring workers in India, and slashing

profits in Ireland, you know that, all the while dismissing and even censoring their fellow citizens right here at home. Under President Trump, those days are over. We need U.S. technology companies to be all in for America. We want you to put America first. You have to do that. That's all we ask. That's all we ask. To partner with our tech geniuses and achieve in this vision today, we're releasing the White House AI action plan.

Big stuff. We're signing it right after this. In fact, I see it sitting right there. Maybe I should just sign it right now. Who the hell has to make the rest of this speech, right? But here are the pillars of the strategy. First, my administration will use every tool at our disposal to ensure that the United States can build and maintain the largest, most powerful, and most advanced AI infrastructure anywhere on the planet. America needs new data centers, new semiconductor, and chip manufacturing facilities, new power plants and transmission lines.

And under my leadership, we're going to get that job done, and it's gonna be done with certainty and with environmental protection and all of the things that we have to do to get it done properly. Virtually all of these things that we have to do to get it done properly. Virtually all of these large capital investments can be and should be made by the private sector. And they want to do that.

They just want to be able to do it. But for that reason, America must once again be a country where innovators are rewarded with a green light, not strangled with red tape so they can't move, so they can't breathe, and that's not gonna happen. You're gonna see things that you've never seen in this country before. So often, and I've been watching for many years, I've watched regulation.

I've been a victim of regulation. A zone change, it takes six years for a building in Manhattan or whatever, but I was good at zone changes, but it took a long time. By the time you got to zoning, the market changed. You didn't want to build the building. You say, well, but in some cases, that made you lucky, didn't it?

And some could not too many people understand that in this room, but in some cases, waiting for that approval as the market collapsed was a good thing, not a bad thing. But it's time to reclaim our heritage as a nation of builders, and that's why, upon taking office, I signed a historic executive order directing that every one — and this is so important for every new regulation, 10 old regulations must be immediately eliminated.

So we have old regulations that clog up the books that don't even mean anything anymore. You know, my first term, I had more regulation cuts than any president in history times four, and that included two-term presidents, where you're talking about eight years. We had more than any other president, and I think we may even top it this year. We may very well be able to top it during this period of time, because you're really

you are a regulation-prone group, and we're looking to get those regulations out of your way so you can use your genius. Earlier this month, we also enacted the largest tax cuts in American history when I signed the one big, beautiful bill into law. And I think the most important thing in the whole tax cut in terms of pure economics, and I think one of the reasons that my first, you know, we had the most successful economy in history during my first term, and I think this is going to blow it away. So far it is. And I think this is going to blow it away. But the reason we had was I had expensing at 100 percent.

And what we did is we included 100 percent in this bill, expensing for all capital expenditures, including investments in factories and equipment and structure. Structure wasn't included last time. So even structure. And you're able to write it all off immediately. That's the biggest thing.

Not 38 years, not 42 years. You're able to write it all off immediately. And this time we've made it for 10 years, not four, one year. We've made it for 10 years, so you have a much longer period. But I'd say get out and take advantage of it. I think that's one of the reasons that we had such an incredible success with the first tax cuts. And one of the things that this bill does is it extends the first tax cuts and makes

them permanent. And in addition to that, we were granted other taxes like no tax on tips, no tax on social security, no tax on overtime. A lot of great things. One of the things that I mentioned, not so pertinent here, but if you're in the automobile business, it's pertinent. I said, why is it that people like us always are looking for expenses and deductions, and people that buy automobiles that really have to go out

and borrow money to buy a car, why aren't they allowed to deduct the interest on their loan to buy a car from their income tax? And we got it approved. We got it approved. And that is such a big thing. And I think that's going to be such a big thing for the automobile industry. We're going to be making more cars. Within a few years, we're going to be making more cars that we made in the very beginning, in the super prime. You know, we lost almost 50% of our automobile business

to Mexico, Canada, and various other places, as you know, in Europe and in Asia. And now we're getting it back. We're getting it back in record numbers. And I think we're going to be topping any amount. In a few years, we'll be making more automobiles than we've ever made in the history of our country, including what I call prime time.

My administration is also pursuing a future of all-out American energy dominance, and on day one I terminated the Green New Scam. You know what that was, you were all victims to it. Perhaps the second or third greatest scam in the history of our country. I would say the first was Russia, Russia, Russia. And we had a couple of others too.

But the Green New Scam was one of the greatest. It's so ridiculous. What they've made you do. The carbon footprint. They talked about the carbon footprint and then Obama hops onto a 747 Air Force One and flies to Hawaii to play a round of golf and comes back.

What about the carbon footprint? No, we didn't like that. And what Biden has done is absolutely terrible. He made it impossible, almost impossible, for people to do business, not even talking about the border, where millions and millions of people flowed into our country, many from prisons,

from jails, from gangs, from mental institutions all over the world. No, we're not doing that. We have to get them out. We've got 11,888 murderers. Many of them committed more than one murder. Many of them, more than 50%, committed more murders. We're getting them out of our country,

or in some cases, they're so bad, we're not getting them out, we're having to lock them up because we don't want them ever to come back no matter how good we're doing. You know, last month, you probably read, we had zero people enter our country illegally, and over the last number of years, you'd have hundreds of thousands,

literally hundreds of thousands of people a week pour into our country, totally unvetted and unchecked. And what the hell were they thinking? What they've done to our country is so sad, and we can never forget it. But we're unleashing all forms of energy,

including natural gas, oil, and clean, beautiful coal. I instructed my people, in the form of Chris and Doug in particular, you are not allowed to say the word coal without saying clean, beautiful in front of it. You can only say clean, beautiful coal. It's a little embarrassing because we had somebody making a speech the other day, right? And he mentioned the word coal about 30 times because that was the subject. And he kept going clean, beautiful.

I wanted to say, okay, just take it easy. You could just... Got a little bit crazy, right, Doug? But it's... You know, China's using it. They're building now 57 big power plants all fueled by coal. And we have to compete. We have to win. and we're going to have clean, beautiful coal. But we have more coal than any – we have more anything in terms of energy than anybody.

Oil and gas, we also have more coal. In May I also signed an executive order to rapidly begin construction of safe, reliable nuclear reactors. That's a big thing now. And many of you will, many of you are going to be using nuclear. You know, I had problems with nuclear. I saw some of the things. But what they've done with nuclear is like what you've done with AI and other things. It's incredible, actually. It's long term. It's inexpensive, it's just, it's safe. What they've done is really amazing.

So we opened up the industry, very strict rules, but we opened up the industry, and some of you are gonna choose nuclear over oil and gas or whatever it might be. Under the last year of Biden, China added 11 times as much power generation capacity as did the United States. Can you imagine that 11 times? Under the Trump administration, we will be saying those very famous campaign words, drill

baby drill and build baby build, and we will be adding at least as much electric capacity as China. We think we're going to catch them and maybe even have something a little bit extra. They're going very rapidly, but so are we. And we'll be doing at least as much, and every company will be given the right to build their own power plant. So when you build, you can build your power plant with it, and you are essentially going

to become your own utility. It's a utility to yourselves. And as I said, any excess energy you're going to sell back to the grid and make plenty of money doing it. As a result of these pro-American policies since my election, we're seeing trillions and trillions of dollars in new investments. So at this moment, we have almost $17 trillion coming into this country. There's never been a period of time like that. and that's in a period of a few months. In a few months, Metta,

Amazon, Google, Microsoft are all investing $320 billion or more in data centers and AI infrastructure this year. Those companies are really, they're really going at it and they're very smart people, very good people. I got to know a lot of them. You know, I didn't like them so much first term when I was running. I wouldn't say I was thrilled with them, but I've gotten to know them and like them. I think they got to like me, but I think they got to like my policies maybe much more than me. Nvidia has committed $500 billion over the next four years.

Thank you, Jensen. I'm sure that'll be a good investment. If you're doing it, it's good. Thank you very much. It's a great statement. Last week I was in Pennsylvania as 20 companies announced $92 billion with David McCormick, a senator, a great guy from Pennsylvania. $92 billion in energy and data center projects, including what will soon be the largest

natural gas power plant anywhere in North America. They're going to town, it's already under construction, largest in North America by far. For decades we had leaders who spent their time focused on building up foreign nations. Under the Trump administration, we are going to have leaders We've had leaders who spent their time focused on building up foreign nations. Under the Trump administration, we are going to have leaders who are going to build up our nation.

This colossal investment in AI infrastructure and many other industries for that matter, such as automobiles and so many other things, will also create thousands and thousands of great paying jobs, the kind of jobs we want, including lots of blue-collar jobs. And, you know, our numbers are very good right now, but will you see these numbers in two years from now? It will mean higher wages and more opportunity for millions of energy workers, HVAC technicians, engineers, electricians, and the hardworking citizens

who make our country run. These hardworking citizens who make our country run. These are great people that make our country actually run. To ensure America maintains the world-class infrastructure we need to win today, I will sign a sweeping executive order to fast-track federal permitting, streamline reviews, and do everything possible to expedite construction of all major AI infrastructure projects. And this will be done. You will get so good a service in so many ways, not only from Lee with the environment,

but you need many other types of permits and you're going to go so fast. You're going to say, well, wait a minute, this is too fast. I didn't expect to go this quickly. This is a problem. I may cause a problem in opposite, but including factories, data centers, and power plants of all kinds, the United States will have total industrial and technological supremacy.

The second pillar of our action plan for AI dominance is to get the entire world running on the backbone of American technology, and I think that's very much happening right now, and I think it's going to happen. The last administration was obsessed with imposing restrictions on AI, including extreme restrictions on its exports. As you know, they made it very difficult to export this alienated American partners and

drove even our friends into the arms of China and other countries. That's why upon taking office, I repealed the so-called Biden diffusion rule. Can you imagine that? That crippled American AI exports, the Biden diffusion rule. I wonder who came up with that name because he has no idea what it is. He had no idea what it was.

He came up with a rule. I wonder who drew that one. I wonder was that signed by the auto pen, I think, because they went to him and said, we're going to do a diffusion rule, Mr. President. What? What? It's okay. The auto pen will take care of it. It's one of the greatest scandals

in the history of our country. Let me tell you, under my administration, we will maintain necessary protections for our national security, but we will never forget that the greatest threat of all is to forfeit the race and force our partners into rival technology. We're not gonna do that.

We're not gonna do that. Okay? I'm not gonna let that happen. That could be the end. When I traveled to the Middle East in May, every leader I met was thrilled to do business with American tech firms and with America, and they were all thrilled to meet me, believe it or not. It's hard to believe this, but they were.

By the way, most powerful woman in the world is here today. Suzy Wilde, stand up, please. Suzy Wilde, stand up please. Suzy Weill. Chief of Staff. She can take out a country with a mere phone call. No, they just voted her the most powerful woman anywhere in the world. She might be the most powerful person in the world, I think. But she's done a fantastic — she's done a good job though, huh? Good.

But we're gonna come home with trillions and trillions of dollars in deals and that's the way it is. But the King of Saudi Arabia, we met three great leaders, I went to three countries predominantly, King of Saudi Arabia said, and I can say that Qatar and UAE, the leaders, brilliant guys, great people, they said the same thing. They said, you know what?

That one year ago, your country was dead. It was a dead country. They were looking at China, they were looking at other places, but you had a dead country. And today, Mr. President, you have the hottest country anywhere in the world. They said that and they meant it so strongly.

And when I went to NATO two weeks ago, country anywhere in the world. They said that and they meant it so strongly. And when I went to NATO two weeks ago, where we made the deal where they pay five percent instead of two percent, they said the same exact thing. They said, boy, I tell you what a difference it is. It's a year ago. You people were dead. We didn't think you were going to make it as a country. Today you're the hottest country in the world. They all said it. All those leaders said it, 30 of them.

So today, I'm signing another major executive order that will turn America into an AI export powerhouse. Under this order, Secretary Lutnick and Secretary Marco Rubio, Marco Rubio's doing a great job as Secretary of State, will work to rapidly expand American AI exports of all kinds, from chips to software to data storage, of all kinds. And that's very important. That's going to give you the freedom to do what you want to do. And third, once and for all, we are getting rid of woke.

Is that okay? Because I know you had to hire all woke people. I heard you had to hire all woke people under some of these things. How about the chips where they give you the chip nonsense, where they give you billions of dollars if you only build a chip company. These people have plenty of money.

They don't need the money. They need the permits. They need the rights to do it. They don't want to pay tariffs. So they come and they build here. That's why they're coming here. They like, number one, they like me, but they like not having to pay tariffs even more.

And they're coming, but Biden gave billions of dollars to companies that have nothing but cash. And they don't say where to build. It's just give them money. But here's the problem. They have to hire lots of woke people. And they say woke isn't for this particular industry. We've noticed that.

They're not for a lot of industries if you want to know the truth. So the guidelines were impossible. They're gonna give you money, but you gotta hire this and this and this and that. And I don't want to get into it too much because I don't want any controversy today. But you have to hire a lot of people

that were not into this particular world that you're in. And so therefore, all the money they gave didn't mean a damn thing. One of Biden's worst executive orders established toxic diversity, equity, and inclusion ideology as a guiding principle of American AI development. So you immediately knew that was the end of your development. But the American people do not want woke Marxist lunacy

in the AI models and neither do other countries. They don't want it. They don't want anything to do with it. That's why on day one, I very proudly terminated Joe Biden's order on woke AI effective immediately. You don't have any of those crazy rules? Crazy rule.

And in just a moment, I will be signing an order banning the federal government from procuring AI technology that has been infused with partisan bias or ideological agendas such as critical race theory, which is ridiculous. And from now on, the U.S. government will deal only with AI that pursues truth, fairness, and strict impartiality.

We're not gonna go through the craziness that we've gone through for the last four years. And then we skip four, and then you go back, and it started then. But it hung around a little while. Now it's not hanging around at all. Now it's actually very uncool, as somebody told me the other day.

It's so uncool to be woke. I encourage all American companies to join us in rejecting poisonous Marxism and our technology. It'll be very interesting to see what's happening in New York, because they're actually thinking about electing a communist in New York. They like to call him a socialist. He's not a socialist, he's a communist.

But don't worry, you're going to be okay. He still has to get his money from the White House, and that's not going to happen until he shapes up. But as an example, we are not going to allow men to play in women's sports. That's just an example, that's one. And they say that's an 80-20 number. They say 80% would be against it. No, it's not 80-20, it's about 97-3. And I don't know who the three are.

I've never seen anybody, I've never had a person, I've seen everybody, I'm a very open person. They come up to me and they talk to me, I've never had anybody come up, sir, you have to let men play in women's sports. I've never had it. I deal with hundreds and thousands of people, every time I talk to somebody, nobody's ever,

they talk about AI, they talk about everything, but they've never said, you gotta allow, this is ridiculous, men should be allowed to play in women's sports. It's sort of crazy, isn't it? You have to see, did you see the race? It was a race, a long distance marathon, one of those all day deals, and we had one of the great female runners, and we had one of the great male runners, and at the end of the day, he won the race by five hours and 14 seconds.

They waited around for the really good athlete female. It's very demeaning to women, I want to tell you that, but they waited. Her parents were waiting for hours. Somebody said, why don't you go back to the hotel and sleep for a few hours and come back and meet your daughter? This is what they do. You've got to see the weightlifting records,

they're the best of all. A woman lifted 212 pounds, it was a world record, it held for 18 years. And now a man who transitioned came up and looked at the bar, how much is it? 212 pounds. Oh, let me try it. Bling, bong. I think he broke the record? 212 pounds. Oh, let me try it. Wing bong. I think he broke the record by 109 pounds. It's gonna be a long time. It's gonna be a long time before a woman catches that.

And these are great athletes and great people and it's demeaning and who the hell wants this? We're off of that whole standard because I just tell you those as examples. We're off of it. The reason the last administration was so eager to regulate and restrict AI was so they could limit this technology to just a few large companies, allowing them to centralize it, censor it, control it, weaponize it, and they would weaponize a very dishonest group

of people. You probably saw that, because we caught them in the act. We really caught them. We had it before, but now we really have them. We have it where it counts. This is the exact opposite of my approach. The unique strength of the American tech industry has always come from its startups and small tech.

It comes through small. Jensen was small. Were you ever small? I think so. When you started in your bedroom, I think you were small, right? He started as very small, and now he's really become very amazing. If you regulate them too much,

you kill the source of American genius and technological power, I believe that. Joe Biden had a plan to lose the AI race. I think he wanted to lose it because his plan would never have worked. It would have never been successful, and you would have spent a lot of money, and you wouldn't have been able to win.

They didn't allow you to win, but we have a plan which only admires and respects the winners. Every citizen should take incredible pride in the inspiring feats of American innovators who are pushing the bounds of human knowledge and achievement. The people of open AI, Google, Meta,

and countless startups are proving once again that America is impossible. You are just impossible to beat. You're not gonna be beaten. We're not gonna let that happen. When you do your best, when you work your hardest, and when you're allowed to be free of horrible, foolish regulation,

and you're gonna have regulation, but it's gonna be sensible, smart regulation, there's nobody who's gonna beat you. As we push even further into this exciting frontier, let us never forget that all of this prosperity and progress has come from the culture of freedom and hard work, merit, ambition, and risk-taking passed down from one generation of Americans to the next. Silicon Valley rose to wealth, fame, and glory by exemplifying these values, and it will win this race not by rejecting them,

but by embracing them like they have never been embraced before, we must put America first. This is a nation that invented the light bulb, the telegraph, the television, the telephone, the computer chip, the smartphone, the GPS, the integrated circuit, and even the internet. Basically, we invented everything. What is left? We invented everything. And now it's AI.

We invented everything. Does anyone have anything else to say? And now we're gonna take it to a new level, but Americans were the first to fly a plane, first to harness the atom, and first to plant our flag on the moon. We mastered the first to fly a plane, first to harness the atom, and first to plant our flag on the moon. We mastered the industrial age, we created the digital age,

and now we are leading the world into the golden age indeed, the golden age of America. With your help, that golden age will be built by American workers, it will be powered by American energy, it will be run by American workers. It will be powered by American energy. It will be run on American technology, improved by American artificial intelligence, and it will make America richer, stronger, greater, freer, and more powerful than ever before.

And I will now do my share by going and signing a name without an auto pen. I will sign it, if we had one, I wouldn't use it anyway, but we will sign it auto pen free, and we will say Donald J. Trump, God bless America, and God bless you, and good luck, because the race has just begun, and you're gonna win it. Thank you very much, everybody.

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you, everybody. Mr. President, the first executive order that we've prepared for your signature today relates to federal permitting for data center infrastructure.

As you mentioned during your speech, this is a crucial issue affecting the entire AI industry. What this executive order will do is establish fast-track permitting and ensure that the federal government is working to get data centers approved and through the permitting and ensure that the federal government is working to get data centers approved and through the permitting pipeline as quickly as possible. Okay. As you said before, sir, it's absolutely essential that American AI models and the American AI industry dominates the future of this industry around the world.

What this next executive order will do is promote through various instrumentalities of the federal government the export abroad of American AI models to ensure American AI dominance in the future. Okay. Okay. Okay. And lastly, sir, as you said in your speech, we don't want woke AI. We want AI models based on accurate information that give accurate information and accurate answers. This executive order will ensure that when the federal government procures or promotes

different AI models, that those AI models are ideologically neutral, that they don't embrace wokeism and critical race theory and all of these terrible theories that have done so much damage to our country. Thank you very much. Thank you, my friend. Good job. Thanks. Thank you very much.

Thank you, my friend. Good job. Thank you. Thank you very much, everybody. Good luck. Good luck. Thank you.