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CoinWorld News: U.S. President Donald Trump said on Thursday that investments in artificial intelligence (AI) will be larger than those in internet infrastructure during the late 1990s, and total capital expenditures are consistent with this assertion. Goldman Sachs expects that by 2026, AI capital expenditures will need to reach $700 billion to match the peak spending levels of telecom infrastructure in the late 1990s. The investment bank predicted in May that AI capital spending this year would reach $765 billion and expects annual spending to grow to $1.6 trillion by 2031. In addition, Trump also predicted that by the time he leaves office, 40% to 60% of chip manufacturing will be based in the United States.