The Trump administration has announced a new "Stargate" investment plan aimed at boosting AI development within the United States. Raymond James Managing Director Ed Mills joins Morning Brief to discuss the details.
Mills emphasizes that "above all else," President Donald Trump cares about "investment in the United States," noting that the president "wants things in the United States."
"If we can keep AI in the United States that is a national security prerogative and a big boost to the US economy," he added.
Mills explains that the current rule established by the Biden administration requires US-based companies to maintain at least 50% of their chip production domestically and 75% within either the United States or its closest allies, leaving only 25% for production elsewhere. This policy is expected to be maintained under the Trump administration.
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This post was written by Angel Smith