Treasury Secretary Scott Bessent Criticizes US Hyperscalers for Failing to Communicate AI Benefits
US Treasury Secretary Scott Bessent criticized major artificial intelligence companies, known as hyperscalers, for not adequately communicating the benefits of their investments in communities. He emphasized that both industry and government have a responsibility to explain how these advancements improve quality of life, national security, and practical use cases. Bessent noted public concerns over rising costs linked to data center construction but expressed optimism about an upcoming productivity boom driven by AI spending. Bessent also highlighted the competitive threat posed by China in AI development, warning that if they gain a lead, it could undermine US technological dominance. He reiterated his belief that the U.S. is on track to control 80% of global computing power by 2028 and remains confident about its position relative to other nations. In addition to criticizing communication strategies, Bessent previously advised hyperscalers to adjust their bond issuance timing in response to rising Treasury yields.
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Topics: AI data centers government regulation public perception