"The Biden administration literally was giving Intel money for free and giving TSMC money for free, and all these companies just giving the money for free, and Donald Trump turned it into saying, 'Hey, we want equity for the money. If we're going to give you the money, we want a piece of the action for the American taxpayer,'" Lutnick said.
AI models are energy-hungry and will drive increased cloud computing consumption. Data centers worldwide consumed roughly 1.5% of global electricity, and that number is expected to grow.