Vance: AI regulation 'under control'... and tech companies warn of a 'Trojan horse'

US Vice President JD Vance downplayed growing concerns about the future of artificial intelligence on Tuesday, asserting that regulation of this technology sector in the United States is “under control.”

Speaking to reporters in response to warnings about the risks of AI development, Vance said, “We must recognize that there are risks to anything, and this applies to AI as well. We know it has many benefits.”

He added, “There is no doubt that we want to ensure we regulate this sector intelligently,” expressing his belief that Americans should not fear anything.

Vance expressed surprise at the move by major technology companies working in AI to approach the government and demand regulation and controls on the industry, describing the effort as “a Trojan horse.”

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US President Donald Trump had previously downplayed the importance of warnings regarding AI risks on Monday, characterizing them as part of a “malicious conspiracy” against a sector in which the United States maintains global leadership.

Trump wrote on his platform, Truth Social, that “the only regulator, or what is known as the controls and limits that AI needs, is a strong and highly intelligent president with a high IQ, and the United States has that in abundance.”

He accused those he described as “promoters” of such warnings of weaving a “malicious conspiracy” against the AI and data center sectors, noting that China is “the only party benefiting from this.”

Shares of AI companies around the world fell during trading on Monday and Tuesday, following statements from industry leaders who called for slowing the pace of AI capability development, warning that the technology could pose an “existential threat” to humanity.