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Silicon Valley’s Man in the White House Is Benefiting Himself and His Friends

Silicon Valley’s Man in the White House Is Benefiting Himself and His Friends

The New York Times
2025/12/05
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In July, David Sacks, one of the Trump administration’s top technology officials, beamed as he strode onstage at a neo-Classical auditorium just blocks from the White House. He had convened top government officials and Silicon Valley executives for a forum on the booming business of artificial intelligence.

The guest of honor was President Trump, who unveiled an “A.I. Action Plan” that was drafted in part by Mr. Sacks, a longtime venture capitalist. In a nearly hourlong speech, Mr. Trump declared that A.I. was “one of the most important technological revolutions in the history of the world.” Then he picked up his pen and signed executive orders to fast-track the industry.

Almost everyone in the high-powered audience — which included the chief executives of the chip makers Nvidia and AMD, as well as Mr. Sacks’s tech friends, colleagues and business partners — was poised to profit from Mr. Trump’s directives.

Among the winners was Mr. Sacks himself.

Since January, Mr. Sacks, 53, has occupied one of the most advantageous moonlighting roles in the federal government, influencing policy for Silicon Valley in Washington while simultaneously working in Silicon Valley as an investor. Among his actions as the White House’s artificial intelligence and crypto czar:

  • Mr. Sacks has offered astonishing White House access to his tech industry compatriots and pushed to eliminate government obstacles facing A.I. companies. That has set up giants like Nvidia to reap an estimate of as much as $200 billion in new sales.

  • Mr. Sacks has recommended A.I. policies that have sometimes run counter to national security recommendations, alarming some of his White House colleagues and raising questions about his priorities.

  • Mr. Sacks has positioned himself to personally benefit. He has 708 tech investments, including at least 449 stakes in companies with ties to artificial intelligence that could be aided directly or indirectly by his policies, according to a New York Times analysis of his financial disclosures.

  • His public filings designate 438 of his tech investments as software or hardware companies, even though the firms promote themselves as A.I. enterprises, offer A.I. services or have A.I. in their names, The Times found.

  • Mr. Sacks has raised the profile of his weekly podcast, “All-In,” through his government role, and expanded its business.

No event better illustrates Mr. Sacks’s ethical complexities and how his intertwined interests have come together than the July A.I. summit. Mr. Sacks initially planned for the forum to be hosted by “All-In,” which he leads with other tech investors. “All-In” asked potential sponsors to each pay it $1 million for access to a private reception and other events at the summit “bringing together President Donald Trump and leading A.I. innovators,” according to a proposal viewed by The Times.

ImagePresident Trump spoke about artificial intelligence in July at a summit in Washington hosted by “All-In,” a tech podcast, and organizers of the Hill & Valley Forum, a tech conference.Credit...Kenny Holston/The New York Times

The plan so worried some officials that Susie Wiles, the White House chief of staff, intervened to prevent “All-In” from serving as the sole host of the forum, two people with knowledge of the episode said.

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