Trump rejected new federal AI rules, saying "self-regulation is very important" and that existing oversight through the DOJ and FBI is enough, while floating a committee of roughly 10 people to "watch over the whole enterprise." The accord says participating companies will meet regularly to establish standards and best practices and that "over time, it may make sense to codify these steps into laws or regulations." Elon Musk described the commitments as "joint monitoring, special committees and just generally grading each other's homework, which is a lot better than if people just grade their own homework."
The lunch drew a broader roster including Amazon's Jeff Bezos, Microsoft's Satya Nadella, AMD's Lisa Su, Broadcom's Hock Tan, Palantir's Alex Karp and Micron's Sanjay Mehrotra, along with officials including Vice President JD Vance, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. CNBC put the combined market value of the public companies represented at more than $26 trillion. Critics were skeptical of the voluntary approach: Gary Marcus read the accord as the industry agreeing not to be regulated and not to give the public a voice, while AI safety advocate Jeff Ladish said "self-regulation isn't working." The meeting came as Florida's attorney general asked a court to halt OpenAI's training of new models unless it adds outside safeguards.