David Sacks, White House AI and crypto czar, joins 'Money Movers' to discuss the AI race, crypto regulation and chip trade with China.

Pittsburgh

David Sachs, the White House AI and crypto czar, spoke at the Pennsylvania Energy and Innovation Summit about the US approach to winning the global AI race. He emphasized three main strategies: fostering private sector innovation by reducing regulatory barriers, investing in robust infrastructure to support energy-intensive AI applications, and promoting American technology as the global standard through exports.

Sachs also addressed concerns regarding the sale of semiconductor chips to China, clarifying that only older, less advanced chips are being exported. He argued that this approach prevents China from dominating the market while ensuring the US retains its technological edge. Sachs highlighted the importance of balancing competitiveness with security in global technology markets.

WH crypto czar: We want American tech to be golden standard

Welcome back. The Pennsylvania Energy and Innovation Summit getting underway in Pittsburgh this morning. Pennsylvania Senator Dave McCormick and the Trump administration highlighting billions of dollars worth of investments in the state focused on AI and energy. Joining us now from the summit is White House AI and Crypto Czar David Sachs. It's good to see you. I know you just spoke on a panel about how we win the AI race. So tell us a little bit about how we do that and whether it's happening. Sure sir. Good to be with you this morning. So President Trump assigned us this mission of winning the AI race. And there's really three ways that I think we do that. Number one is innovation. We have to outcompete our global adversaries. There's just no substitute for innovation. You can't regulate your way your way to winning the race. And in the United States the innovation is done by the private sector. So it's really the job of government to enable the private sector and get the red tape out of the way. And you're seeing that with respect to energy here in Pennsylvania. Number two is infrastructure. We have to have the biggest the most the best infrastructure. A.I. applications are very power hungry. These new data centers consume a lot of electricity. We're going to need to make big new investments in power generation and in our grid. And again that's what we're doing here in Pennsylvania. So we have to again drill baby drill. We've got to build more infrastructure. And the third is A.I. exports. We have to basically export American technology around the world. We have to make it the global standard in Silicon Valley. We understand that the companies that win are the ones that create the biggest ecosystems. They have the most developers on their platform. They have the most apps in their app store. In a similar way we want American technology to be the global standard. We want the most people using it. We want data centers across the world to be adopting the American technology stack. And so we want to have a mentality of expanding adoption and diffusion of American technology. And so that's how we win the race. I guess on that point though we don't want them using our technology against us. And so I wanted to ask you about the big news today which is that and then video stock is reacting to it. The company is not going to be able to restart selling the H20 chips to China. Why why does that help us win this race. Well so first of all I agree that we shouldn't be selling our best and latest greatest advanced semiconductors to China. But the H20 is a deprecated chip. It's not anywhere close to the state of the art. And that's why the Biden administration allowed the H20 chip to be sold to China. So this is a continuation of that policy. And since then over the past year we've seen while we make huge strides they introduced a new technology called Cloud Matrix and they've started selling their technology exporting their technology to other countries. And so I think it's pretty important that we actually compete and take market share away from Huawei in China. Otherwise we're basically creating a huge subsidy for Huawei in China. We're giving them all of that market. We're giving them all that revenue to fund their R&D and we're basically creating a developer ecosystem for them. So I think we don't want to sell China our latest greatest technology. But I do think we at least want to make it a little bit difficult for Huawei here. We do want to sell them a deprecated chip so they don't run away with that huge part of the market.

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As Suwayda

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Breakdown