LIVE: Commerce Sec. Howard Lutnick holds news conference at the G20 Innovation Ministerial — 9/2/26

Watch on YouTube ↗  |  September 02, 2026 at 21:03  |  53:26  |  CNBC
Speakers
Howard Lutnick — Secretary of Commerce
Michael Kratsios — Director, Office of Science and Technology Policy, The White House

Summary

At the G20 Innovation Ministerial in Chapel Hill, Commerce Secretary Howard Lutnick and OSTP Director Michael Kratsios announced consensus on the Carolina principles for emerging technology. Lutnick emphasized massive private US AI infrastructure investment commitments from Nvidia, TSMC, IBM, Micron, SpaceX and Anthropic. He also defended data center buildout against local opposition, while Kratsios highlighted regulatory efforts around AI model review and commercial drones.

  • G20 nations reached consensus on an innovation statement and Carolina principles for emerging technology.
  • Lutnick cited private AI infrastructure commitments: Nvidia $500B, TSMC $265B, IBM $150B, Micron $250B, SpaceX $55B, Anthropic $50B.
  • Lutnick argued data centers will lower local power costs and create tax revenue, dismissing opposition as misinformation.
  • Kratsios said new FAA rules were created to unlock commercial drone operations.
  • Kratsios described the voluntary frontier model review framework under the executive order.
  • Lutnick said China has not taken up the H200/AMD chip offer and export control relaxation is not needed.
  • Kratsios promoted the American AI exports program to share US chips, models and applications with partners.
Ideas
Howard Lutnick Secretary of Commerce 23:27
Massive private AI infrastructure investments in US.
Secretary Lutnick says the Trump administration is attracting enormous private AI infrastructure investment: Nvidia committed $500 billion to AI infrastructure and supercomputers, TSMC $265 billion to semiconductor manufacturing, IBM over $150 billion, Micron $250 billion for memory fabs, plus SpaceX and Anthropic commitments, signaling a broad US AI infrastructure buildout.
NVDA TSM IBM MU HIGH
Howard Lutnick Secretary of Commerce 31:43
Data center buildout continues despite opposition.
Lutnick argues data centers will house frontier AI knowledge and create local prosperity; builders will supply their own power and lower local power costs, while opposition is based on misinformation. Communities that block data centers will lose investment to others, supporting continued US data center buildout.
US data center buildout MED
Michael Kratsios Director, Office of Science and Technology Policy, The White House 34:12
New FAA rules unlock commercial drones.
Kratsios says commercial drone operations were a novel case where existing FAA airspace rules were not fit; the administration completed rulemaking to create new regulations that unlock commercial drone delivery for the American people, a regulatory catalyst for the drone sector.
commercial drone operations MED
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This CNBC video, published September 02, 2026, features Howard Lutnick, Michael Kratsios discussing NVDA, TSM, IBM, MU, US data center buildout, commercial drone operations. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Howard Lutnick, Michael Kratsios  · Tickers: NVDA, TSM, IBM, MU, US data center buildout, commercial drone operations