US Treasury Secretary Criticizes AI Firms for Poor Community Outreach

US Treasury Secretary Scott Bessent recently criticized American AI companies for failing to communicate with local communities about data center construction, calling their efforts poor. He said the AI industry and government must explain AI's benefits to the public in terms of practical use, national security, and quality of life. Bessent noted that while data centers are innovative and could create long-term jobs, firms haven't listened to community concerns, giving them a grade of D-. AI investments have driven up utility costs and prices for high-bandwidth memory, raising public worries. Bessent expects AI capital spending to ease inflation within six months and boost US productivity. Last month, he also criticized cloud providers' bond issuance strategies, suggesting more five-year medium-term bonds.