Trump Trade: Office of Personnel Management launching U.S. Tech Force

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.

U.S. TECH FORCE: The U.S. Office of Personnel Management, in coordination with the Office of Management and Budget, the General Services Administration, the White House Office of Science Technology and Policy, and agency leaders across the administration, on Monday announced the establishment of the United States Tech Force, a new, cross-government program to recruit top technologists to modernize the federal government. “President Trump has made clear that securing America’s leadership in AI is the paramount national challenge of this generation. The president’s AI Action Plan focuses on unleashing private sector innovation while also recognizing the federal government must have the technical talent to lead in technology modernization. Tech Force is a critical aspect of this directive – a government-wide effort to surge teams of top engineers, data scientists, and technology leaders to tackle the government’s most complex and large-scale challenges and deliver on the president’s vision. In collaboration with leading private-sector technology companies, participants will receive world-class technical training and work closely with senior managers sourced directly from industry.”

OPM announced the initial private sector partners for Tech Force: Adobe (ADBE), Amazon Web Services (AMZN), AMD (AMD), Anduril, Apple (AAPL), Box (BOX), C3.ai (AI), Coinbase (COIN), Databricks, Dell Technologies (DELL), Docusign (DOCU), Google Public Sector (GOOGL), IBM (IBM), Meta (META), Microsoft (MSFT), Nvidia (NVDA), OpenAI, Oracle (ORCL), Palantir (PLTR), Robinhood (HOOD), Salesforce (CRM), SAP (SAP), ServiceNow (NOW), Snowflake (SNOW), Synopsys (SNPS), Uber (UBER), Workday (WDAY), xAI, and Zoom (ZM).

MARIJUANA RECLASSIFICATION: President Donald Trump says he is looking at reclassifying marijuana “very strongly,” according to Bloomberg. Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF).

CRYPTO: After Trump returned to the White House, the SEC eased up on or dismissed more than 60% of ongoing crypto cases, including ones about Trump-tied companies, moving to pause litigation, lessen penalties or outright dismiss the cases, The New York Times’ Ben Protess, Andrea Fuller, Sharon LaFraniere, and Seamus Hughes report. Under Trump, SEC dismissals came at a “far higher rate” for crypto firms than other cases, the report says. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Circle Internet (CRCL), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).

ECONOMIC ADVISOR: Intel (INTC) on Monday announced senior leadership appointments in three core functions – government affairs, marketing & communications and advanced technology strategy. Robin Colwell has joined Intel as senior vice president of government affairs, where she will lead the company’s global engagement with policymakers, regulators, and industry leaders. Colwell most recently served as deputy assistant to President Donald J. Trump and deputy director of the National Economic Council, developing Administration policies across all sectors of the U.S. economy. Robin’s appointment follows that of James Chew as vice president of Intel Government Technologies. Annie Shea Weckesser has been appointed senior vice president and chief marketing and communications officer. She will lead Intel’s newly integrated global marketing and communications organization, unifying corporate reputation, brand strategy, and market engagement. Weckesser joins Intel from SambaNova, where she served as chief marketing officer. In addition to his current role as chief of staff to the CEO, Pushkar Ranade will also serve as interim chief technology officer to help formulate the company’s advanced technology strategy and to consolidate and develop critical emerging technologies, such as quantum computing, advanced interconnects, and novel materials within the new CTO Office.

WHITE HOUSE DECISION: Many competitors to Nvidia (NVDA) were shocked that soft-spoken CEO Jensen Huang was able to convince the White House to allow the company to sell its H200 chips to China, Joe Miller, Demetri Sevastopulo, and Michael Acton of The Financial Times report. “I think game recognizes game,” a person familiar with the company’s strategy told the Times. Until recently, Nvidia had a threadbare lobbying operation in Washington and Haung was initially skeptical of the “value proposition” of courting Trump after his reelection, a person familiar with the company’s strategy said. After the White House restricted the sale of H20 chips to China, Nvidia was drawn into politics, with the company joining a consortium and Haung meeting with Trump privately at least six times this year.