President Biden’s latest executive order opens federal sites for private AI infrastructure development, marking a significant shift in US AI policy and clean energy utilization.
Outgoing US President Joe Biden has signed an executive order to enhance the country’s infrastructure for Artificial Intelligence (AI). According to a White House statement issued on Tuesday, January 14, private entities in the United States can now access federal sites to build infrastructure for AI at scale and speed.
Furthermore, Biden directed the Department of Energy and the Department of Defense to lease federal sites.
As a result, private investors seeking to build AI infrastructure can access clean energy in a way that is economically feasible for the American people.
“AI is poised to have large effects across our economy, including in health care, transportation, education, and beyond, and it is too important to be offshored. In addition, the significant and growing electricity needs of large-scale AI operations present a new opportunity for advancing American leadership in the clean energy technologies that will power the economy,” the statement noted.
The outgoing Biden administration has been vocal about the importance of AI development to enhance the country’s security and economic status. In October 2023, President Biden signed an executive order to establish the standards for artificial intelligence safety and security.
Biden directed that top developers for AI infrastructure must share their safety test results and other critical information with the US government.
Impact of Biden AI Executive Order on Crypto Industry
The latest executive order by President Biden will have a profound impact on the entire web3 industry and blockchain technology in the long term. Additionally, the cryptocurrency industry has registered palpable growth in the intersection of AI and blockchain technologies.
For instance, the top AI-focused coins have registered a significant growth to a market cap of over $44 billion and a 24-hour average trading volume of around $4.4 billion. The top AI agent coins have also registered a palpable growth to a market cap of more than $13 billion and a 24-hour average trading volume of around $2.9 billion.
In the memecoin category, tokens focused on AI technology – led by a16z and Fartcoin – have grown to a market cap of about $7.58 billion and a 24-hour trading volume of over $2.4 billion.
The development of AI infrastructure on federal sites by private entities will be a major boost to AI-focused crypto projects. Moreover, the upcoming Trump administration has signaled positive crypto regulations in the coming years, including an executive order on the first day of office.
Ultimately, the cryptocurrency industry will experience meteoric growth as more AI infrastructure is developed by private entities seeking to capitalize on the Web3 space.
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