David Sacks Clarifies He Remains Opposed To AI Bailouts After Saying Reversal In Investments Would Risk Recession
Synopsis
The White House AI czar said on Monday that a reversal in AI-related investments would risk a recession.
President Donald Trump’s AI and crypto czar, David Sacks, on Tuesday clarified that he remains opposed to any bailouts for companies in the artificial intelligence sector.
“Puzzled that anyone could interpret this post as supporting a bailout. I’ve already opposed that. Nor do I believe one is needed,” Sacks said in a post on X.
Sacks said that a reversal in AI-related investments would risk a recession, citing a report by The Wall Street Journal that stated these investments accounted for nearly half of the U.S.’s Gross Domestic Product (GDP) in the first half of the year. “We can’t afford to go backwards,” he added.
Sacks’ posts coincided with the announcement of the White House’s Genesis Mission, which is aimed at boosting innovation with AI.
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