The industry uses fantasies of technological dominance to paper over financial shortcomings and demands for regulation.

During a September 2026 visit to Ireland, President Donald Trump declared, “We’re leading China in AI [artificial intelligence]. We’re the most sophisticated country in the world, and frankly I want to keep it that way because whoever wins AI wins.” His remarks arrived after months of calls from the public and tech industry insiders to slow AI development. These concerns were triggered by…

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