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Investing.com-- U.S. President Donald Trump said on Wednesday that he had considered breaking up NVIDIA Corporation (NASDAQ:NVDA) to boost competition in the artificial intelligence sector, but had reconsidered over the difficulty of such a move.
The president outlined a 90-part plan to establish a federal regulatory framework for AI, and signed three executive orders incorporating some elements of the plan, including looser environmental rules and encouraging more AI exports to allies.
“I figured we could go in and we could sort of break them up a little bit, get them a little competition, and I found out, it’s not easy in that business,” Trump said on Nvidia, speaking at an AI summit at the White House.
Trump lauded Nvidia CEO Jensen Huang, stating “what a job you’ve done!” to the CEO, who was present at the summit.
The president spoke on the importance of U.S. dominance in AI, and that the country could not allow any foreign nation to surpass the country in the field.
“From this day forward it will be the policy of the United States to lead the world in artificial intelligence,” Trump said, calling for a “common sense application of artificial and intellectual property rules.”
The president dismissed concerns over the unauthorized use of copyrighted material in training AI, a topic that is the subject of several lawsuits against major AI companies, especially OpenAI.
Trump also criticized state-based regulation of AI, calling for a common, federal standard that “supercedes all states.”
Trump signs three AI orders
As part of Wednesday’s summit, Trump signed three executive orders aimed at supporting the AI industry.
He signed an order allowing the use of federally owned land for the development of AI data centers, and another order to promote the export of American AI hardware and software.
Trump also signed an order to prevent federal use of politically biased AI, claiming that diversity, equity and inclusion (DEI) policies posed an “existential threat” to reliable AI.
The orders are mostly in line with a 90-point action plan for the AI industry outlined by Trump, which includes a reversal of former President Joe Biden’s gated approach to the industry that called for limited global access to AI.
Trump, on the other hand, called for a boost to the export of AI technology.