Trump’s AI investments are turning Washington into a VC firm

Donald Trump’s America First approach to governing has produced plenty of unusual developments. But taking stakes in potential national champions in AI may be among the most curious. Late last month, the Commerce Department announced $874 million in proposed funding for seven companies developing the memory, packaging, photonics, and materials needed to build faster AI systems. In return, Washington will receive a minority equity stake in each company. The investments span several key parts of…