Trump: AI is Bigger Than Oil, Crypto Crucial for US Dominance

US President Donald Trump has emphasized the importance of artificial intelligence (AI) in a recent interview, calling it 'bigger than anybody ever thought possible'. He stated that AI is 'bigger than the internet' and that the country which leads in AI will win. The President believes abundant energy will determine which country comes out on top.

Trump also highlighted the significance of cryptocurrency (crypto), saying that the US cannot allow China to dominate the sector. He warned that if the US doesn't have crypto, China will 'have another', implying a competition between the two nations.

The comments come as technology companies continue to invest heavily in AI infrastructure and data centers. This has fueled investment across the semiconductor and power sectors, with AI-related spending becoming one of Wall Street's dominant investment themes over the past two years.