Bessent faults US AI firms for failing to explain data center benefits

September 2, 2026 at 11:51 PM2 min

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Treasury Secretary Scott Bessent criticized US AI companies for failing to explain the benefits of data centers to communities. He gave the industry a D-minus grade for communication at a Charlotte Economics Club event. Bessent also said the US is on the cusp of a productivity boom from AI investments.

Key Facts

Bessent gave the AI industry a D-minus grade for explaining itself to communities.
He predicted the US share of global computing power will rise from 55-60% in 2025 to 80% by 2028.
Bessent said the US is 'on the cusp' of a productivity boom from AI investments.
He warned that if China gets ahead in AI, 'everything else we do won't matter.'

Industry Criticism

Bessent said the AI industry has done a 'terrible job' of explaining itself to the American public. He faulted companies for being 'tone deaf' to communities and stakeholders affected by data center construction. Bessent highlighted that some 'outside voices' in favor of data centers are now pushing back against efforts to limit their construction. He said innovative construction could be a 'long, long cycle' for people working in the trades.

Economic Outlook

Bessent reiterated his view that AI investments put the US 'on the cusp' of a big productivity boom. On Tuesday, he predicted the capital-spending surge on AI will prove 'extremely disinflationary.' He said he expects to see benefits within the next six months. Bessent noted that AI spending and data center construction have added to price pressures on utilities and high-bandwidth memory.

China Competition

Bessent flagged that 'the Chinese are right behind us' on AI. He warned that if China gets ahead, 'everything else we do won't matter' because they will be able to hack into everything. Bessent said the US had 55% to 60% of global computing power last year and predicted it will reach 80% by 2028.