Tech Titans Gather in D.C. Ahead of Trump Administration

FIRST ON FOX: A select group of tech industry titans and venture capitalists will convene in Washington, D.C. this week to welcome the incoming Trump administration and celebrate the burgeoning prospects for global innovation in artificial intelligence (AI) and entrepreneurship.

High-Profile Attendees Set to Converge

Executives from companies at the forefront of AI technology, their major financial backers, and representatives from the incoming administration are expected to attend a dinner on Thursday. This event is organized by Outside the Box Ventures, a firm launched last year by journalist-turned-investment banker Katherine Tarbox and Laurent Bili, the French ambassador to the United States.

The guest list for this exclusive dinner includes high-profile figures such as Elon Musk, CEO of “DOGE,” Peter Thiel, a prominent Silicon Valley investor and GOP mega-donor, Bobby Franklin, CEO of the National Venture Capital Association (NVCA), incoming White House AI and crypto czar David Sacks, OpenAI’s Sam Altman, investor Joe Lonsdale, and Colin Greenspon, co-founder of Narya.

Symbolizing a New Era of Collaboration

“This gathering represents more than mere discussions. We envision it as a symbol of a new chapter in public-private collaboration to leverage technology’s transformative potential for the nation’s future,” a source close to the planning asserted to Fox News Digital. This event comes just days before President-elect Trump is sworn in as the nation’s 47th president.

The Drive for American Technology Leadership

America’s leading entrepreneurs are eager to capitalize on what Microsoft’s Brad Smith describes as a “golden opportunity for American technology and economic competitiveness.” The goal is to replicate the successful collaboration of industry leaders and government resources, seen during Trump’s Operation Warp Speed, which was instrumental in the rapid development of COVID-19 vaccines, for advancements in AI.

Bili’s participation underscores France’s ambition to take on a leadership role in AI. With a global action summit focused on AI technology slated for Paris this February, France recognizes the United States as a crucial partner in this venture.

Excitement in the Venture Capital Sector

“We believe this is the hottest ticket for tech and venture capital leading up to the inauguration,” the source reported. Franklin has confirmed his attendance and expressed the prevailing excitement within the venture capital sector regarding several of Trump’s nominations, especially those like Sacks, who have strong backgrounds in the tech industry.

“One of our challenges is always in educating others about the venture industry, its workings with entrepreneurs, and how it contributes to technological and economic advancements,” Franklin noted. “Having individuals who understand this coming into the administration is certainly welcome from our perspective.”

The Stakes for U.S. AI Leadership

This gathering comes at a pivotal moment for the U.S., which currently holds a leading position in AI startups, yet faces intense competition from China and other global adversaries. Notably, American companies garnered over 40% of global AI funding in 2023, eclipsing the combined totals from China and the European Union. U.S. venture capital firms unleashed .9 billion in funding for AI startups that same year, driving advancements in generative AI technologies, such as ChatGPT, Google’s Gemini, and Grok from X.AI.

In the last five years alone, U.S. entities have filed over 10,000 AI-related patents, underscoring a robust pipeline of innovation that Franklin and others believe the incoming administration is poised to support.

China’s Rapid Developments Challenge U.S. Dominance

Yet, analysts are sounding alarms regarding China’s rapid advancements in AI technology, which could challenge American dominance and potentially threaten U.S. national and economic security. A recent report from the American Edge Project warns, “China is rapidly advancing its own open-source ecosystem as an alternative to American technology, using it as a Trojan horse to embed its Communist Party values into global infrastructure.”

The report further described China’s progress as “both significant and concerning,” particularly highlighting how Chinese-developed open-source AI tools are outperforming Western models on critical benchmarks and operating at considerably lower costs. Through initiatives like its Belt and Road Initiative (BRI) and the Digital Silk Road (DSR), China is actively exporting its technology worldwide, thereby fostering increased global reliance and undermining democratic norms, which poses a challenge to U.S. leadership and global security.

A Shift in Regulatory Approach

As the Trump administration prepares to take office, there is a general expectation that it will allow the private sector to play a leading role in the race against China. Historically, the Biden administration favored a regulatory approach that included establishing “guardrails” for AI development. In contrast, analysts believe Trump intends to overturn a Biden-era executive order governing AI policies concerning federal agency procurement and use.

The 2024 Republican platform has criticized the previous administration’s policies as hindrances to innovation, claiming they foster “Radical Leftwing Ideas,” particularly those emphasizing the need for bias-free AI models. Trump’s appointment of Sacks as the AI czar aligns with his broader strategy of entrusting tech leaders with shaping the future of AI, likely prioritizing innovation over regulation.

A New Political Landscape for Tech

While Thursday’s dinner is positioned as a strictly nonpartisan event, Silicon Valley’s eagerness to build ties with a Republican administration signals a notable shift in political dynamics. In the past, issues such as immigration and climate change had put tech giants at odds with the GOP, and Trump’s initial emergence during the 2016 presidential election was largely viewed as unpredictable, causing many venture capitalists to maintain their distance. However, a growing recognition of AI as a national priority seems to have bridged this divide.

“It was certainly a political outsider who won in 2016; now, he’s not an outsider,” Franklin articulated, highlighting the evolution of Trump’s relationship with the tech community heading into the new administration.