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【U.S. Treasury Secretary Bessent: Artificial Intelligence Cannot Be Compared with the Internet Bubble】
According to attendees, U.S. Treasury Secretary Bessent said at a closed-door meeting on Wednesday that there are no systemic problems in the artificial intelligence industry and that it cannot be compared at all with the internet bubble at the turn of the century. Bessent said he was optimistic about this frontier technology and believed technological progress would benefit the United States, but also acknowledged that data centers and artificial intelligence companies had not done enough to explain the technology’s benefits to ordinary Americans. The closed-door meeting attracted hundreds of financial industry executives and investors, with tickets starting at 7500 USD, and the top sponsorship package priced as high as 100000 USD, with proceeds going to charity. This year marked the 14 th edition, with cumulative fundraising of nearly 72000000 USD. Bessent has publicly predicted on multiple occasions that the development of artificial intelligence will substantially increase productivity and significantly boost U.S. economic growth. Currently, growing concerns in American society about artificial intelligence investment and data centers have triggered a sell-off in artificial intelligence stocks. Former Treasury Secretary Yellen noted that whenever she gives a speech, she always confirms that the media are present and that public reports will be released. Bessent’s office responded that his views at the closed-door meeting had all been expressed publicly before and did not raise transparency issues; in addition to artificial intelligence, he also discussed his views on the U.S. economy. An increasing number of regions have begun opposing data center construction, affecting the upcoming U.S. midterm elections and weakening support for President Donald Trump and the Republican Party.