Happy New Year 2025

Tag: CEO

Open AI CEO Sam Altman predicts artificial intelligence will lower prices

OpenAI CEO Sam Altman and Anduril Industries co-founder and CEO Brian Schimpf discuss the future of A.I. and the ethical use of technology on ‘Making Money.’

OpenAI CEO Sam Altman predicts that artificial general intelligence will lead to lower costs for many goods, but has also warned that AI could be leveraged by authoritarian governments aiming to control people.

OpenAI is the company behind the popular AI model ChatGPT.

Altman explained in a blog post that AGI generally refers to “a system that can tackle increasingly complex problems, at human level, in many fields.” He noted that systems “are coming into view” which begin “to point to AGI.”

OPENAI ANNOUNCES US NATIONAL LABORATORIES PARTNERSHIP, PLANS TO SUPPORT WORK ON NUCLEAR SECURITY AND MORE

Sam Altman, co-founder and CEO of OpenAI, speaks during a panel discussion titled “The Age of AI” at the Technical University of Berlin on Feb. 7, 2025, in Berlin, Germany. (Sean Gallup/Getty Images)

“Although some industries will change very little, scientific progress will likely be much faster than it is today; this impact of AGI may surpass everything else,” he noted.

Altman suggested that while prices for many goods will decrease, some things, such as land, could see significant price increases.

“The price of many goods will eventually fall dramatically (right now, the cost of intelligence and the cost of energy constrain a lot of things), and the price of luxury goods and a few inherently limited resources like land may rise even more dramatically,” he wrote.

While Altman predicted that AI will permeate society, he also warned that the power of AI could be harnessed by authoritarian governments.

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OpenAI CFO Sarah Friar discusses the company’s partnership with SoftBank, consumers embracing artificial intelligence, OpenAI’s ‘deep research’ tool and DeepSeek’s impact in the space.

“AI will seep into all areas of the economy and society; we will expect everything to be smart. Many of us expect to need to give people more control over the technology than we have historically, including open-sourcing more, and accept that there is a balance between safety and individual empowerment that will require trade-offs,” he wrote.

“While we never want to be reckless and there will likely be some major decisions and limitations related to AGI safety that will be unpopular, directionally, as we get closer to achieving AGI, we believe that trending more towards individual empowerment is important; the other likely path we can see is AI being used by authoritarian governments to control their population through mass surveillance and loss of autonomy.”

It is important to make certain that “the benefits of AGI are broadly distributed,” Altman asserted.

MICROSOFT VICE CHAIR AND PRESIDENT SAYS AI IS THE ‘MOST IMPORTANT’ EXPORT OF AMERICAN SERVICES

Arm CEO Rene Haas discusses Big Tech pledging billions for AI on ‘The Claman Countdown.’

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He suggested that “the balance of power between capital and labor could easily get messed up, and this may require early intervention. We are open to strange-sounding ideas like giving some ‘compute budget’ to enable everyone on Earth to use a lot of AI, but we can also see a lot of ways where just relentlessly driving the cost of intelligence as low as possible has the desired effect.”

February 10, 2025
Anheuser-Busch CEO wants beer to be called ‘American’ made

‘Making Money’ host Charles Payne discusses the economic risks of the buy now, pay later trend.

Anheuser-Busch is encouraging its distributors and partners to replace the term “domestic” with “American” when marketing beer, arguing that the term better reflects the industry’s identity.

In a Wednesday letter titled “A Call for American Beers,” CEO Brendan Whitworth expressed his dissatisfaction with the longstanding use of “domestic” to describe American-made beer, saying it shows up on bar menus, at beer stands, in grocery aisles and is used by syndicated data providers “too frequently.”

Whitworth starts the letter with six words, “I don’t like the word ‘domestic.’”

“I’m asking the Anheuser-Busch team and our wholesalers to make the change. Change the bar menus, change the venue boards, change the signs, change their reports, change their jargon, and insist upon American. I hope other American brewers and wholesalers will join us,” Whitworth also wrote.

He is also calling on marketing and research firms such as Circana and Nielsen to do so as well.

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While the word is not “necessarily an incorrect adjective to use,” Whitworth said. “It just doesn’t fully capture the spirit and passion that’s intrinsic to the American beer industry and its brands.”

It also falls short of capturing “the pride we should all take in products made right here in this great country,” Whitworth continued.

Anheuser-Busch CEO Brendan Whitworth started his letter to wholesale partners with six words, “I don’t like the word ‘domestic.’” (Luke Sharrett/Bloomberg via Getty Images)

The move comes amid a patriotic push from the White House. President Donald Trump signed an executive order on his first day in office to rename the Gulf of Mexico to the Gulf of America. Whitworth did not mention Trump’s executive order in his letter.

Whitworth – who served in the Marines before joining the CIA – was named as the Anheuser-Busch chief executive in July 2021 and led the company through challenges associated with its controversial 2023 Bud Light marketing campaign featuring transgender influencer Dylan Mulvaney, which sparked backlash and a significant boycott by consumers and public figures.

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Whitworth tried moving beyond the controversy by launching a slew of patriotic or humorous marketing campaigns focused on the company’s broader role in American culture. Those also highlighted the workers responsible for making the company’s beer and its contributions to the economy and communities.

Anheuser-Busch CEO Brendan Whitworth expressed his dissatisfaction with the longstanding use of “domestic” to describe American-made beer. (Photographer: Daniel Acker/Bloomberg via Getty Images / Getty Images)

In the Wednesday letter, Whitworth underscored that American beers should better advertise that the product is made by “American hands.”

FOR TAP BEER, THIS ANHEUSER-BUSCH BRAND IS NOW TOPS

“They are brewed by American workers who receive American wages. They rely on American farmers and on American raw material suppliers. They support American causes like the military and first responders,” he said. “They pay American taxes. And they exist because of decades of capital investments made in hundreds of local communities, right here across this great country.”

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Whitworth said that 99% of the beers that Anheuser-Busch sells in the U.S. are made in the country. Additionally, 99% of the ingredients the company uses come from American farmers.

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“Together, let’s leave ‘domestic’ in the rear-view mirrors of those good ol’ American pick-up trucks. Let’s all take more pride in our American beers,” Whitworth said in the letter.

February 6, 2025
CEO of water brand donates salary to LA fire victims, reduces income to $1

Jordan Bass, CEO and co-founder of Hop Wtr, reduced his salary to $1 following the tragic fires in Los Angeles, California, in January. Bass told FOX Business that he encourages other CEOs of brands to do the same or to contribute where they can.

Jordan Bass, CEO and co-founder of Hop Wtr, a non-alcoholic beverage brand, reduced his salary to $1 to provide immediate financial support to his employees, first responders and Los Angeles community members who were affected by the wildfires in January.

Headquartered in Los Angeles, Hop Wtr team members were forced to evacuate their homes, uncertain of what they might return to.

“Work took a backseat during that period,” Bass told FOX Business. “We’re a small company, so I have personal relationships with everyone in the company. I know all of our people. I know their families.”

WILL HURRICANES AND WILDFIRES CAUSE INSURANCE PRICES TO RISE NATIONWIDE?

Jordan Bass, CEO and co-founder of Hop Wtr, reduced his salary to $1 to support victims and employees during the devastating Los Angeles wildfires in January 2025. (Axelle/Bauer-Griffin/GC Images / Getty Images | Hop Wtr / Getty Images)

Amid evacuations, Bass ensured the safety of his employees by quickly coordinating forms of mass communication to team members living in and out of California. With Bass’ salary reduction, he was able to provide incremental funds for affected employees. This included reimbursement for air purifiers.

“We really care about each other pretty deeply,” Bass said. “I’m not a billionaire. We don’t have a big philanthropy department, but we felt really compelled to help. I hope this inspires other CEOs to contribute if they can.”

Despite having urgently evacuated his own family amid the raging wildfires, Bass said his team immediately mobilized and donated 10,000 cans of water to first responders, fire stations, fire camps and evacuation centers.

CALIFORNIA WILDFIRES COULD COST INSURERS $20B, HIGHEST IN STATE’S HISTORY

Jordan Bass, CEO and co-founder of Hop Wtr, told FOX Business that he was fortunate his family and home were safe in the aftermath of the LA fires. Hop Wtr donated 10,000 cans of water to first responders immediately, and 50,000 cans later.

“We realized we had a product that people needed, and we felt a real calling to help,” Bass told FOX Business.

“I just felt like I wanted to do more,” Bass said. “It wasn’t enough and the quickest way for me to do that was lower my salary and contribute those funds to help our employees get through this situation, help them with recovery, help continue to get clean water to those in need and to help with the rebuilding efforts.”

As part of their continued efforts to help amid the LA fires, Hop Wtr partnered with All Hands and Hearts, a volunteer-powered nonprofit, to disperse both water and financial support. Furthermore, Hop Wtr supported community outreach by establishing communication channels for people who were in need. The brand also launched a fundraising campaign for customers which garnered thousands of dollars.

STATE FARM, OTHER INSURERS SLAMMED FOR DROPPING COVERAGE

Hop Wtr provided 10,000 cans of water to first responders, fire camps and more immediately after wildfires raged in LA. An additional 50,000 cans were later distributed. (HOP WTR / Fox News)

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“It’s really amazing to see that,” Bass said.

“I believe that as a business leader, it’s imperative to use my business platform for good and this has been absolutely devastating on many people,” he said. “I call on other CEOs to do the same and use your company, your salary, your platform to help with this recovery.”

February 5, 2025
Palantir CEO touts Elon Musk’s DOGE, ability to hold ‘sacred cows of the deep state’ accountable

‘Making Money’ host Charles Payne discusses the current state of global trade and The Fitz-Gerald Group principal Keith Fitz-Gerald analyzes Palantir on ‘Making Money.’

When asked whether the Elon Musk-led Department of Government Efficiency (DOGE) would serve as roadblocks to their business, Palantir’s CEO and chief technology officer were overwhelmingly optimistic about the check-and-balance foundation that DOGE is laying.

“Palantir’s real competition is a lack of accountability in government, these forever software projects that cost an insane amount that don’t actually deliver results. They’re sacred cows of the deep state,” CTO Shyam Sankar said in the fourth-quarter earnings webcast on Tuesday.

“And I think DOGE is going to bring meritocracy and transparency to government. And that’s exactly what our commercial business is,” he continued. “The commercial market is meritocratic and transparent, and you see the results that we have in that sort of environment. And that’s the basis of our optimism around this.”

The artificial intelligence-enabled data analytics firm reached its own milestone this week, as investors reacted positively to Palantir’s Q4 earnings and caused shares to surge as high as 28% before settling at a 24% gain by market close.

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Forbes reported that Palantir’s market capitalization jumped up to $240 billion, a company record, making it more valuable than popular names like McDonald’s, American Express and Disney.

Top Palantir executives reportedly have no fears about risks DOGE could pose to its government contract-led business. (Getty Images)

More than half of Palantir’s business comes from government contracts. During an appearance on FOX Business in December, its CEO Alex Karp shared his wholehearted support for DOGE, adding that there’s no “better person” than Musk to lead it.

Palantir CEO Alex Karp opens up about the company’s success and weighs in on DOGE on ‘The Claman Countdown.’

“We love disruption, and whatever is good for America will be good for Americans and very good for Palantir,” Karp said on Tuesday’s webcast. “Disruption, [at] the end of the day, exposes things that aren’t working. There’ll be ups and downs. There’s a revolution. Some people can get their heads cut off.”

“We’re expecting to see really unexpected things and to win, basically, that’s what we’re going to do,” he expanded. “And we’re pretty optimistic about the U.S. environment.”

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Palantir CTO Shyam Sankar warns that if the United States entered a war with a near-peer adversary, our weapons stockpile would last weeks — not years — on ‘The Claman Countdown.’

“The work that we’ve done in government, it’s deeply operational, deeply valuable, and we’re pretty excited about exceptional engineers getting in there under the hood and being able to see that for a change,” Sankar also said.

As of Wednesday’s opening bell, Palantir stock was down slightly from its all-time Tuesday high of $105.79.

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February 5, 2025
Omnilert CEO talks AI and school safety in wake of Antioch High School shooting

Omnilert was used by Antioch High School, which experienced a deadly shooting earlier this month. However, the incident happened out of the system’s field of view.”

Antioch High School in Nashville, Tennessee, was the latest to experience a deadly shooting. In the wake of the tragedy, many have questioned the efficacy of Omnilert, the artificial intelligence-powered weapons detection system that was used in the school. Now the company’s CEO, Dave Fraser, is speaking out about the advantages – and limitations – of AI security systems.

“The way our system works is it’s monitoring video cameras, and if you think about it, it’s essentially playing the role of a human being,” Fraser told Fox Business. “But for it to work, it has to be able to actually see a weapon in the same way that a human would need to see the weapon.”

Fraser explained that unlike traditional surveillance systems, which are often used after an incident, the Omnilert system is meant to be used as a preventative tool, along with other mechanisms.

OPENAI ANNOUNCES US NATIONAL LABORATORIES PARTNERSHIP, PLANS TO SUPPORT WORK ON NUCLEAR SECURITY AND MORE

Image depicts the Omnilert system detecting a weapon. (Courtesy: Omnilert)

“The visual approach, which is quite new, offers some pretty interesting advantages when layered with other technologies,” Fraser said.

When speaking specifically about the tragedy in Nashville, Fraser said that the shooting took place “out of the field of view,” making it “impossible” for Omnilert to see the weapon and detect the threat.

In February 2023, the Metro Nashville Public Schools (MNPS) board greenlit a $1 million contract with AI gun detection system, Omnilert, which is set to end on Nov. 30, 2025, according to local outlet WKRN.

Fraser told Fox Business that Omnilert’s systems are designed to work quickly, as with emergency situations “time is of the essence.”

“If it can see a weapon, it will typically detect it within less than a second and at that point the data regarding that potential detection is actually sent to human beings for verification.”

Omnilert system alert shown on a phone. (Courtesy: Omnilert)

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Once a threat is verified, Omnilert’s system can automatically activate other security tools, such as sounding alarms or locking doors. However, Fraser admits that no one system is perfect and that, in an ideal world, Omnilert would be combined with other safety measures.

The “bottom line,” Fraser says, is to use “multiple layers of defense.”

On its website, Omnilert spells out a possible layered approach to school safety. The list includes training for staff, onsite security, surveillance cameras, metal detectors and more, in addition to an AI-powered system.

According to Omnilert’s annual gun violence report, which was released earlier this month prior to the Antioch High School shooting, 2024 saw the second-highest number of K-12 school shooting incidents since 1966.

Example of how the AI-powered weapons detection system Omnilert finds a suspect with a gun.

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Following the shooting, Fran Bush, a former Metro Nashville Public Schools board member, told the New York Post that she “knew this day was gonna happen.”

“I knew it was gonna happen just because it’s like a free open door, everybody coming in,” Bush added. She also said that she unsuccessfully pushed for the school district to bring in metal detectors.

In response to a Fox Business request for comment on the lack of metal detectors, MNPS Chief of Communications and Technology Sean Braisted said the school is working with Evolv to pilot a concealed weapon detection system.

February 1, 2025
Southwest Airlines CEO on American Airlines crash in DC: ‘our hearts go out’

Former Air Force navigator Jim Brauchle gives his take on the collision between a jet and a military helicopter in D.C. on ‘The Claman Countdown.’

Southwest Airlines CEO Bob Jordan said “our hearts go out” to people on the American Airlines flight involved in Wednesday night’s midair collision with a helicopter in the nation’s capital.

The chief executive of the Dallas-based carrier took a moment to “acknowledge the tragic accident near Reagan DCA Airport last night” before he and other Southwest executives launched into a discussion of the airline’s fourth-quarter financial results on Thursday with analysts and investors.

Southwest Airlines CEO Bob Jordan (Christopher Goodney/Bloomberg via Getty Images/File)

American Eagle Flight 5342 operated by American Airlines subsidiary PSA Airlines was on approach to runway 33 at the Washington, D.C.-area’s Ronald Reagan Washington National Airport when it and an Army Sikorsky H-60 Black Hawk helicopter collided. The two aircraft that collided were carrying 67 people combined, all of whom are thought to be dead, officials have said.

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“Our hearts go out to all those loved ones who are among the passengers and the crew, and we also extend our sympathies to our friends at American Airlines and their subsidiary PSA Airlines as they process this event themselves,” Jordan said during the call, adding that he wanted to “thank the first responders who worked tirelessly throughout the night.”

Emergency response units on Thursday search the crash site of the American Airlines plane that went down in the Potomac River on Wednesday night. (Tasos Katopodis/Getty Images)

“And while we are all competitors, we are one airline community, and we will do everything we can to support our friends at American and at PSA,” he continued.

Other major U.S. airlines have commented on the incident as well.

“Our hearts go out to the victims of this tragic accident and their families – we’re in touch with our colleagues at @AmericanAir and will continue to offer any assistance and support they may need,” United Airlines said in a Thursday post on X.

JetBlue said it was “deeply saddened by the tragic accident in Washington, DC, and extend our heartfelt condolences to all those affected.”

UNITED, DELTA ISSUE TRAVEL WAIVERS FOLLOWING AMERICAN AIRLINES MIDAIR COLLISION NEAR DC

Airlines for America, a trade association that counts Delta Air Lines, Hawaiian Airlines, JetBlue and others among its members, similarly said it was “heartbroken and devastated.”

“Our deepest condolences are with the families and loved ones of the passengers, flight crew and U.S. service members,” Airlines for America said. “We stand ready to assist everyone involved during this difficult time and will await more details from the NTSB.”

The National Transportation Safety Board (NTSB) is taking point on the investigation into Wednesday’s tragic collision. The Federal Aviation Administration and the Army are also involved.

WHITE HOUSE, AMERICAN AIRLINES WILL RELEASE PLANE CRASH VICTIMS LIST

Todd Inman, an NTSB board member, said during a Thursday press conference that the independent investigative agency’s goal was to “understand not just what happened, but why it happened, and to recommend changes to prevent it from happening again.”

Emergency response units on Thursday search the crash site of the American Airlines plane that went down in the Potomac River on Wednesday night. (Tasos Katopodis/Getty Images)

The NTSB aims to release a preliminary report on the midair collision within 30 days. A final report on the incident, he said, will come out “once we’ve completed all of our fact-finding and investigation.”

January 30, 2025
American Airlines CEO says they are focusing on the needs of those involved in wake of midair collision

This is the first US plane crash since 2009.

A massive search and rescue effort is underway after an Army Black Hawk helicopter collided midair with an American Airlines jet at Reagan National Airport in Arlington, Virginia on Wednesday evening.

American Airlines CEO Robert Isom provided an update regarding flight 5342 before departing for Washington, D.C. early Thursday morning.

According to the Federal Aviation Administration (FAA), a PSA Airlines Bombardier CRJ700 regional jet collided in midair with a Sikorsky H-60 helicopter while on approach to Runway 33 at Reagan National Airport (DCA) around 9 p.m. local time.

REAGAN NATIONAL AIRPORT CRASH: MILITARY BLACK HAWK HELICOPTER COLLIDES MIDAIR WITH AMERICAN AIRLINES JET

Emergency response units assess airplane wreckage in the Potomac River near Ronald Reagan Washington Airport on January 30, 2025 in Arlington, Virginia. ( Andrew Harnik/Getty Images / Getty Images)

Isom says the aircraft was operated by PSA airlines, a subsidiary of American Airlines, and departed from Wichita, Kansas. He went on to express his concern about the events taking place and that the company is now focusing on the needs of those involved, the first responders and their loved ones.

“Flight 5342 was under the command of 4 crew members and carried 60 passengers for a total of 64 people on board. We are actively working with local state and federal authorities on emergency response efforts and the American Airlines care team has been activated to assist our passengers and their families,” said Isom.

64 PEOPLE ON DOWNED AMERICAN AIRLINES JET, FIRST US COMMERCIAL PLANE CRASH SINCE 2009

A screenshot from an EarthCam appears to show the moment an Army Black Hawk helicopter collided midair with an American Airlines jet at Reagan Washington National Airport. (Credit: EarthCam)

He also said he knows there are many questions and that although he can’t answer all of them at this time, they are working to get those questions answered, and he will continue to provide updates. He said that it is important they report accurate information because they owe that to everyone involved.

“We’re cooperating fully with the national transportation safety board in its investigation and will continue to provide all the information we can. Our cooperation is without pause, and we want to learn everything we can about today’s events. That work will take time, but anything we can do now, we’re doing and right now, that means focusing on taking care of all passengers and crew involved as well as their families. Members of our go team will be on their way to Washington D. C, and I’ll be heading there shortly as well,” he added.

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Two rescue boats pull debris in the water after an air crash over the Potomac River near Reagan National Airport in Washington, DC, on January 29, 2025. (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images / Getty Images)

PSA was operating as Flight 5342 for American Airlines, and it departed from Wichita, Kansas. There was no immediate word on casualties or the cause of the collision.

American Airlines has set up a special helpline that friends and family can call at 1 800 679 8215 if you believe you’ve had friends or family on board the flight.

Fox News Digital’s Greg Wehner contributed to this report.

January 30, 2025
Robinhood CEO predicts an investing revolution is on the horizon: ‘A big problem’ for US

Robinhood CEO Vlad Tenev encourages opening crypto access for real world assets, tokenizing private company stock and comments on market reaction to ‘meme’ stocks and the A.I.-led tech sell-off on ‘The Claman Countdown.’

Expanding on a recent op-ed regarding “the next frontier” in cryptocurrency investing, Robinhood CEO Vlad Tenev is spotlighting “a big problem” that needs fixing in America’s trading market.

“I think there’s a big problem, which is that if you’re a retail investor right now, and you want to invest in [artificial intelligence] – it is very, very clear that they do, judging by the market activity yesterday and overnight on Sunday – you don’t have too many options,” Tenev said Tuesday in an exclusive interview on “The Claman Countdown.”

“The IPO process has gotten cumbersome. Only the biggest companies can do it, and that limits opportunities and upside, too, to retail investors,” he continued. “We now have an administration that’s crypto-friendly and retail-friendly, and we see an opportunity to fix this major problem.”

Robinhood has broken down crypto barriers by democratizing trading on its easy-to-use platform and free, no-commission trades. Now, Tenev wants to lead in the ability to use crypto and invest in companies before they go public.

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In a Washington Post opinion piece also published Tuesday, Tenev wrote that this investing revolution is coming, but the U.S. isn’t ready for it.

Robinhood CEO Vlad Tenev wants to “open up access” to using cryptocurrencies for the average retail trader. (Getty Images)

“You have companies like SpaceX worth hundreds of billions [of dollars], companies like OpenAI and Anthropic that are off limits to investors,” the CEO pointed out to FOX Business’ Liz Claman. “And the right solution is to open up access to these, sort of, previously accredited assets. And I think we can do that in a way that makes sure that customers know what they’re putting their money into and self-certify that they understand the risks.”

When asked whether the rise of “meme” coins and tokens, like $TRUMP and $MELANIA, more recently, degrade the technical and fundamental value behind the currencies, Tenev responded by saying that it moves larger conversations and gives “the power” to anyone who wants to access a global market.

Robinhood co-founder and CEO Vlad Tenev unpacks the company’s $2 million donation to the Trump inaugural fund on ‘The Claman Countdown.’

“The fact that it’s so easy and that someone with a computer can set it up and do it in a relatively short amount of time shows you that the technology is valuable. And we just need the regulatory clarity to connect this crypto technology to real world productive assets that are currently regulated as securities,” he explained.

After the groundbreaking Chinese AI app DeepSeek fueled a U.S. tech market sell-off earlier this week, Tenev claimed Sunday marked the second-biggest overnight trading session in the platform’s history.

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Trump AI and ‘crypto czar’ David Sacks discusses the administration’s crypto policies and future ambitions for the digital currency during an exclusive interview on ‘The Evening Edit.’

Robinhood’s customers tend to “buy the dip,” the CEO noted, and A.I. also represents the “next frontier” in what investors want to get their hands on.

“I think that just shows you the power of what can happen if private markets are open,” Tenev said. “They’re private companies whose investors are limited to a very, very small circle of insiders that tend to invest in all of these deals. So I think that the next frontier and democratization of retail investing is going to be making sure that these opportunities are open to retail investors.”

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January 28, 2025
Trump, Open AI CEO Sam Altman on Chinese AI startup DeepSeek

Constellation Research founder R Ray Wang discusses the capabilities of Chinas DeepSeek AI app on Varney & Co.

President Donald Trump and OpenAI CEO Sam Altman both joined in on the buzz surrounding Chinese artificial intelligence (AI) startup DeepSeek, which sent the technology sector into turmoil on Monday following its emergence as a potential rival to leading U.S.-based firms.

The president said the release of the lower-cost, high-performance AI models from a Chinese firm “should be a wake-up call,” while Altman conceded that DeepSeek’s R1 model was “impressive” – and vowed OpenAI will deliver models that are superior.

OpenAI CEO Sam Altman (R), accompanied by President Donald Trump, speaks during a news conference in the Roosevelt Room of the White House on Jan. 21, 2025, in Washington, DC. ((Photo by Andrew Harnik/Getty Images) / Getty Images)

“Hopefully the release of DeepSeek AI from a Chinese company should be a wake-up call for our industries that we need to be laser focused on competing to win, because we have the greatest scientists in the world,” Trump told House Republicans on Monday night in Doral, Florida, during a speech at their annual retreat.

THE DEEPSEEK AI CHATBOT BURST ONTO THE SCENE: ARE FEARS ABOUT IT OVERBLOWN?

However, the president said the revelation that DeepSeek has developed a way to produce AI models at a much lower cost than other U.S. models “could be very much a positive development.”

President Donald Trump spoke at the House Republicans’ annual retreat on Monday night. (CHIP SOMODEVILLA/POOL/AFP via Getty Images / Getty Images)

“Instead of spending billions and billions, you’ll spend less and you’ll come up with hopefully the same solution under the Trump administration,” Trump continued, adding, “We’re going to unleash our tech companies and we’re going to dominate the future like never before.”

WHAT IS CHINESE AI STARTUP DEEPSEEK?

Altman, whose company created the popular ChatGPT models, took to X to give his take, writing, “deepseek’s r1 is an impressive model, particularly around what they’re able to deliver for the price.”

The OpenAI CEO went on to say, “We will obviously deliver much better models and also it’s legit invigorating to have a new competitor!”

The quality of DeepSeek’s models and its reported cost efficiency have changed the narrative that China’s AI firms are trailing their U.S. counterparts, which began after the first Chinese ChatGPT equivalent was released by Baidu.

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The DeepSeek-R1 model was released last week and is 20 to 50 times cheaper to use than OpenAI’s o1 model, depending on the task, according to a post on the company’s official WeChat account.

The R1 model is also open source and available to users for free, while OpenAI’s ChatGPT Pro Plan costs $200 per month.

American tech leaders are taking notice. Meta CEO Mark Zuckerberg pointed to DeepSeek during an interview on “The Joe Rogan Experience,” saying the company’s models show how competitive the AI race has become, and stressed the importance of the industry having support from the federal government.

“We should want the American model to win,” Zuckerberg told host Joe Rogan.

“I think it’s easy for the government to take for granted that the U.S. will lead on these things,” Zuckerberg said. “But I think it’s a very close competition, and we need the help. We need them to not be a force that’s making it harder for us to do these things.”

FOX Business’ Eric Revell and Reuters contributed to this report.

January 28, 2025
Nvidia CEO loses over $20B after stock tanks

SKTLs Space Crypto co-founder Cody Willard explains how A.I. will impact the future of business on ‘Making Money.’

Nvidia CEO Jensen Huang saw his personal fortune tumble on Monday amid turbulence in U.S. tech stocks.

His net worth hit $103.7 billion by the end of the trading day, marking a $20.8 billion drop, Forbes reported.

The outlet, which tracks the fortunes of billionaires, linked the 11-figure decrease in his net worth to Nvidia’s stock falling 17% over the course of the day.

Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show in Las Vegas on Jan. 6, 2025. (Patrick T. Fallon/AFP via / Getty Images)

Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sector.

CHINA’S DEEPSEEK DERAILS NASDAQ, NVIDIA, AI DARLINGS

DeepSeek wrote in a paper last month that it trained its DeepSeek-V3 model with less than $6 million worth of computing power from what it says are 2,000 Nvidia H800 chips to achieve a level of performance on par with the most advanced models from OpenAI and Meta.

Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sec (Photo Illustration by Justin Sullivan / Getty Images)

Huang co-founded Nvidia over three decades ago and has a roughly 3% holding in the company, Forbes reported.

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Ticker Security Last Change Change %

NVDA NVIDIA CORP. 122.58 +4.16 +3.52%

Huang’s current net worth ranks among the 20 largest fortunes in the world, according to the outlet. His net worth crossed the $100 billion mark for the first time in May of last year.

WHAT IS THE CHINESE AI STARTUP DEEPSEEK?

The Nvidia headquarters in Santa Clara, California, on Aug. 28, 2024. (Loren Elliott/Bloomberg via / Getty Images)

The company’s market capitalization hovered around $2.98 trillion as of Tuesday.

FOX Business’ Eric Revell contributed to this report.

January 28, 2025