Trump Labels AI Concerns a ‘Hoax’ and Warns Regulations Might Drive U.S. Companies to Bankruptcy

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Trump Dismisses AI Warnings as a Hoax

On Monday, former President Donald Trump downplayed fears regarding artificial intelligence (AI) potentially threatening humanity, labeling such concerns a “hoax.” He suggested that imposing strict regulations on AI could disadvantage American firms in competition with China.

In a post on Truth Social, Trump questioned the motives of leaders in the AI sector who might endorse regulations he claimed would harm their companies—potentially leading them “into oblivion and bankruptcy.”

“AI taking over the World, destroying Humanity, and all other things bad, is a HOAX,” he wrote. “It’s no different from the constant barrage of ‘RUSSIA, RUSSIA, RUSSIA,’ and other hoaxes and scams that America has been forced to endure because of destructive forces and illegal conduct.”

He highlighted Chinese President Xi Jinping’s approach to not restricting AI development, warning that the U.S. might see companies relocating projects abroad due to permitting issues within the country.

“President Xi just announced that China will not impede AI or its progress. Google recently expressed interest in building a huge facility in Finland, largely due to the difficulties they face with permits in the United States,” Trump remarked.

“I’m not pleased with this situation and I want them to reconsider,” he stated.

According to Trump, the development of AI and the related data centers could represent an unprecedented source of economic growth.

“AI and Data Centers will be the Greatest Economic Development Engine in History — surpassing all, including Oil, Gold, and even the Internet,” he asserted. “Nothing will deter this progress during my administration!”

Trump’s comments were in response to tech leaders like Dario Amodei of Anthropic and Sam Altman of OpenAI, along with Elon Musk, who have pressed for stronger regulations and considerations around AI safety and its implications for the economy and national security.

On Sunday, Trump had already rejected the worries voiced by prominent figures about the rapid growth of AI, arguing that whoever leads in AI will dominate globally. He stated:

The only “guardrails” AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and that’s what the U.S.A. has! My administration has been effective in preventing AI from engaging in harmful actions. There’s a troubling conspiracy against AI and Data Centers, and the only ones pleased about it are the Chinese. WHOEVER WINS AI, WINS!

“We are ahead of China and everyone else, and we plan to stay that way. To those who engage in conspiracy theories, treasonous acts, and leaking information: beware! Thank you for your attention! President DONALD J. TRUMP,” he concluded.

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