The Truth Behind the Democratic Party's Anti-AI Policies and the Capital Game

The article argues that the market narrative that Democratic administrations are inherently anti-AI is contradicted by the record: during the Biden administration, the Nasdaq rose 43.42% in 2023 and 28.64% in 2024 (a cumulative gain of roughly 84.5%), while Nvidia's data-center revenue climbed from $15.005 billion in FY2023 to $47.525 billion in FY2024 and $115.186 billion in FY2025. It cites the August 2022 CHIPS and Science Act's $52.7 billion in semiconductor funding (about $39 billion for manufacturing incentives and $11 billion for R&D), the October 2023 AI executive order EO 14110, a September 2024 White House push to unblock AI data-center bottlenecks, and the October 2024 NSM-25 national security memorandum as evidence of active federal support for AI and compute infrastructure. The piece distinguishes backing the technology from backing incumbent tech giants, noting the FTC's January 2024 antitrust reviews of Microsoft-OpenAI, Amazon-Anthropic and Google-Anthropic partnerships and tightening export controls on advanced chips. It concludes that tech bull and bear cycles are not a single-variable function of party control, pointing to the 2022 Nasdaq decline of 33.10% under unified Democratic control as driven by Fed rate hikes and valuation compression rather than AI policy.