AI TRENDS | Trump Says AI Investment Will Surpass the Late-1990s Internet Boom

U.S. President Donald Trump said AI investment was bigger than the internet buildout in the late 1990s, adding that total capital spending aligned with that view. According to Jin10, citing CNBC, Trump made the remarks on Thursday. The report cited Goldman Sachs estimates from 2025 saying AI capital spending would need to reach $700 billion by 2026 to match peak telecom buildout spending in the late 1990s. It also cited Goldman Sachs forecasts made in May that AI capital spending would reach $765 billion this year and that annual spending would rise to $1.6 trillion by 2031. On semiconductors, Trump said he predicted that by the time he leaves office, 40% to 60% of chip manufacturing would be located in the United States.