Former U.S. President Donald Trump recently emphasized in an interview that the future economic scale of the data center industry is expected to surpass that of the oil sector, playing a decisive role in maintaining America's global leadership in artificial intelligence. He explicitly stated that restricting the construction of such infrastructure is short-sighted, and called on state governments to actively attract data center projects through tax incentives and other preferential policies.

Addressing the resistance to data center construction in certain regions, Trump criticized Texas as a prime example. He proposed that if he were in office, he would enthusiastically welcome data centers and implement accompanying tax reduction measures. To alleviate concerns that massive computing facilities might overwhelm aging power grids, he revealed that he has pushed for relevant policies allowing AI data center operators to build their own power generation facilities with expedited approvals. This initiative would not only avoid adding extra load to the public grid but also feed surplus power back into it, thereby enhancing the economic viability of large-scale infrastructure projects and benefiting local communities.

While guiding policy, the White House is also further tightening the accountability requirements for tech companies. Recently, the administration expanded the list of participants in its rate protection pledge program for AI data centers by nearly 200 companies, with the core demand being that developers must bear the costs of upgrading power infrastructure themselves. Currently, tech giants including Alphabet, Microsoft, Meta, Oracle, OpenAI, xAI, and Amazon have all signed this pledge.

Taking Microsoft as an example, the company has previously made it clear that it will prioritize community interests in expanding its AI data centers and will fully cover the corresponding grid upgrade costs to prevent local residents from facing pressure from rising electricity bills. After a proposed $1 billion data center project in Michigan faced community resistance, Microsoft additionally pledged to create local jobs and optimize water usage.

Trump's intensive remarks on data centers and power infrastructure have kept the expansion of AI computing power, energy security, and grid investment in the spotlight for capital markets. As relevant policies are gradually implemented, tech giants, data center developers, and the power equipment and utility sectors are facing new opportunities driven by capital expenditure expansion. Market funds are closely monitoring the evolution of variables such as specific tax and land policies across various states, the actual pace of investment by tech companies, and the carrying capacity of regional power grids.