As President Joe Biden nears the end of his term, he is issuing a series of executive orders. In the latest, the President has signed an order to provide federal support to address the massive energy needs of fast-growing advanced artificial intelligence data centers.
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The order will allow federal land owned by the Defense and Energy departments to host gigawatt-scale AI data centers and new clean power facilities. According to Biden, the order will “accelerate the speed at which we build the next generation of AI infrastructure here in America, in a way that enhances economic competitiveness, national security, AI safety, and clean energy”.
According to the order, companies tapping federal land for AI data centers must also purchase an “appropriate share” of American-made semiconductors. These purchases will be decided on a case-by-case basis.
“It’s really vital that we ensure that the AI industry can build out the infrastructure for training and using powerful AI models here in the United States”.
-White House technology adviser Tarun Chhabra.
Several known names, including OpenAI Senior Vice President of Global Affairs Chris Lehane, have commended this effort. Lehane also called out for cultivating a robust domestic infrastructure for the growing U.S. artificial intelligence sector.
“So what you get with the Biden administration today is — at least from a signaling perspective — on federal land, trying to short the timeline between when you can get your project shovels in the ground and then the project going forward”.
-Chris Lehane
According to Lehane, the incoming Trump administration sees AI through two lenses — national security and economic security. He hopes that both sides of the coin will amalgamate into a national strategy.
AI Company OpenAI has also recently laid out its vision for artificial intelligence development in the U.S. According to the company, the US needs investment from abroad and supportive regulation to stay ahead of China in the race for nascent technology. In a 15-page document called the “Economic Blueprint”, it said that “Chips, data, and energy are the keys to winning AI” and that the U.S. needs to act now to craft nationwide rules that can help secure its advantage.
OpenAI released the document days before President-elect Donald Trump takes office, with CEO Sam Altman also previously donating around $1 million to Trump’s inaugural fund in hopes of fostering a positive relationship.
“There’s an estimated $175 billion sitting in global funds awaiting investment in AI projects, and if the U.S. doesn’t attract those funds, they will flow to China-backed projects —strengthening the Chinese Communist Party’s global influence”.
-OpenAI said in the document.
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10. BigBear.ai Holdings, Inc. (NYSE:BBAI)
Number of Hedge Fund Holders: 7
BigBear.ai Holdings, Inc. (NYSE:BBAI) is an artificial intelligence specialist that provides decision intelligence solutions. On January 15, the company announced that the Board of Directors has appointed Kevin McAleenan as Chief Executive Officer and member of the Board of Directors, effective January 15, 2025. The leadership change marks an important step for the business, noted Peter Cannito, Chair of the Board of Directors of BigBear.ai. This is because there is a robust demand for differentiated artificial intelligence solutions that provide strategic advantage in government and business. The amalgamation of recent technological achievements and strategic contract awards has placed BigBear.ai as a leading AI solutions provider focused on national security imperatives. McAleenan’s appointment will help BigBear.ai support the company’s objectives.
“It is an honor to step into the role of CEO at BigBear.ai. The success of our customers depends on their ability to navigate complexity and act decisively in the most high-stakes environments. BigBear.ai is uniquely positioned to support these objectives with our domain expertise, and our cutting-edge technology. I look forward to working with this exceptional team to build on our successes and expand our ability to deliver AI-powered solutions in ways that make a meaningful impact for our customers, partners, and stakeholders”.
-McAleenan.
9. Cerence Inc. (NASDAQ:CRNC)
Number of Hedge Fund Holders: 10
Cerence Inc. is a software company that provides AI-powered virtual assistants and innovations for the mobility/transportation market. On January 2nd, the company announced that it had signed a multi-year agreement with luxury automaker JLR for developing the automotive’s next-generation in-car experience. Under the agreement, Cerence’s AI-enabled technologies will be leveraged to deliver advanced intelligence and capabilities to JLR customers globally. The companies also intend to continue working together to expand and improve the JLR in-car experience.
“JLR has long been synonymous with technologically advanced driving experiences, and we’re proud to collaborate with this luxury automotive to further extend their reputation in this field. Cerence AI will collaborate with JLR to craft a new generation of in-car experiences that enhance enjoyment, safety, and productivity by leveraging the latest technological advancements”.
-Christian Mentz, Chief Revenue Officer, Cerence AI.