US Targets 80% of Global AI Compute Power by 2028, Says Treasury Secretary

U.S. Treasury Secretary Scott Bessent has set an ambitious target for the United States to control 80% of global computing power by 2028, framing the artificial intelligence race with China in stark terms. Speaking at a private luncheon on Wednesday, Bessent warned that a U.S. loss in AI would "negate all our other efforts," according to a report from the IANS wire service.

The AI Compute Dominance Strategy

Speaking at the Charlotte City Club, Bessent projected a significant expansion of America's AI infrastructure, driven by the administration's tax, energy, and regulatory policies. He stated the U.S. share of global computing power is expected to rise from an estimated 60% in 2025 to 80% by 2028.

"We are going to go up from about, call it, 60% in 2025. By 2028, the US will have 80 per cent of global computing power here, which is just extraordinary," Bessent said. He noted that the U.S. currently holds an approximate six-month lead over Beijing in AI compute capacity. The remarks followed a G20 Finance Ministers’ meeting that ended without a unanimous communiqué after China objected to language on non-market economic practices.

Implications for Investors

The administration's compute-focused strategy has direct implications for specific market sectors. The most prominent beneficiary is Nvidia (NASDAQ:NVDA), the dominant manufacturer of the GPUs essential for AI data centers. A policy environment that accelerates domestic data-center construction directly supports demand for Nvidia's high-margin products.

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Bessent also argued that AI's productivity gains are spreading beyond Silicon Valley. He cited industrial and pharmaceutical giants like Medtronic (NYSE:MDT), Deere & Co. (NYSE:DE), 3M (NYSE:MMM), and Eli Lilly (NYSE:LLY) as examples of established companies embedding AI into their core operations. For investors, this suggests that the potential for AI-driven earnings growth and multiple expansion is becoming a cross-market theme, not one confined to the technology sector.

Broader Economic Agenda

The push for AI supremacy is part of a wider economic framework. Bessent also highlighted the "Trump Accounts" initiative, a program that seeds $1,000 investment accounts for children to broaden equity market participation. He noted that an estimated 38% of U.S. families have no stock market exposure.

Corporate adoption of the program is growing, with firms like Goldman Sachs (NYSE:GS) and Delta Air Lines (NYSE:DAL) announcing plans to match the government's seed funding for employees' children. Investors are now watching for upcoming IRS guidance on employer contributions, which could further accelerate the program's reach.