AI News on November 18th
1. Trump Signs Executive Order Launching AI "Genesis Project"
#US #GenesisProject #AI #ExecutiveOrder
President Trump signed an executive order launching the "Genesis Project," a national AI initiative designed to transform scientific research methods and accelerate discovery. The order directs the Department of Energy to create an AI experimental platform integrating U.S. supercomputers and unique data assets to generate scientific foundation models and support robotic laboratories.
2. EU's Lagarde Warns Europe Missed AI Opportunities, Faces Future Risks
#EU #Lagarde #AI #Competitiveness
European Central Bank President Christine Lagarde warned that Europe has missed its chance to be an AI pioneer and is endangering its future, stating that the U.S. and China are already leading in the field. She emphasized that Europe must quickly remove obstacles hindering the adoption of the new technology to remain competitive.
3. White House Directs Coordination of Federal AI Infrastructure
#WhiteHouse #AI #Infrastructure #Federal
The executive order instructs the Assistant to the President for Science and Technology to coordinate the Genesis Project and integrate data and infrastructure across federal departments. The Energy Secretary, APST, and AI and Cryptography Special Advisor will collaborate with academic and private sector innovators to support the initiative.
4. US Positions AI Competition as Equivalent to Manhattan Project
#US #AICompetition #ManhattanProject
The Trump administration considers the upcoming AI competition as strategically equivalent to the Manhattan Project or space race, according to Department of Energy Chief of Staff Carl Coe. The Genesis Project aims to significantly increase the efficiency and impact of federal research and development over the next decade.
5. Tech Stocks Rally on AI Initiative and Fed Rate Cut Signals
#Stocks #Tech #Market #AI
U.S. stocks closed higher with the Nasdaq Composite jumping 2.69% and the S&P 500 gaining 1.55%, boosted by the AI initiative and signals from Fed officials suggesting potential December rate cuts. Chip stocks led gains with the Philadelphia Semiconductor Index rising 4.6% as Broadcom surged 11% and AMD gained over 5%.
6. Fed's Daly Supports Rate Cuts Citing Labor Market Concerns
#FederalReserve #Rates #Economy #Daly
San Francisco Fed President Mary Daly expressed support for interest rate cuts at the December meeting, citing concerns about sudden labor market deterioration being more difficult to manage than inflation spikes. Market expectations for a December rate cut jumped to 82.9% following her comments.
7. Meta Considers Multi-Billion Dollar Google TPU Purchase
#Meta #Google #TPU #AIchips
Meta Platforms is reportedly considering spending tens of billions of dollars to purchase Google's Tensor Processing Units for its data centers, with negotiations ongoing for 2027 procurement. The news sent Google shares up over 2% in after-hours trading while NVIDIA declined 2% on potential competition concerns.
8. Genesis Project Extends Trump's July AI Policy Blueprint
#AIPolicy #Blueprint #Innovation
The Genesis Project follows Trump's comprehensive AI policy blueprint released in July that aimed to make it easier for AI companies to develop in the U.S. and help allies access critical hardware and software. The blueprint encouraged investment in automated cloud laboratories across scientific fields and expanded AI research training.
9. Funding Questions Remain for Ambitious AI Initiative
#Funding #Congress #Budget
While the Genesis Project outlines ambitious goals for transforming scientific research through AI, questions remain about how the initiative will be funded. White House officials have hinted that future congressional assistance may be required to fully implement the program and achieve its decade-long objectives.
10. Chinese Stocks Rally on US AI Developments and Market Sentiment
#China #Stocks #Market #International
The Nasdaq Golden Dragon China Index surged 2.82% to 7726.23 points, reflecting positive market sentiment toward Chinese assets following the U.S. AI initiative announcement and broader tech rally. The movement demonstrates international market interconnectedness in response to major AI policy developments.