This Is a Funny Way to ‘Help’ US AI Companies: Dave Lee

The race to build artificial intelligence is supposedly a key priority for Donald Trump’s administration, as emphasized by the president’s enthusiasm when announcing the $500 billion “Stargate” infrastructure project in January. “I’m going to help a lot,” he said, flanked by Oracle Corp. chairman Larry Ellison and OpenAI co-founder Sam Altman.

But Trump’s “Liberation Day” tariffs announcements sent a very different message. The news hammered Oracle’s stock as the prospect of new duties loomed large over its ability to quickly build the data centers required for the AI revolution. Were OpenAI a public company, it would have likely experienced something similar; its demand for computing power is insatiable. ...