Trump Trade: Trump looks to open U.S. retirement market to crypto

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:

CRYPTO INVESTMENTS: President Donald Trump is looking to open the U.S. retirement market to cryptocurrency investments, gold, and private equity, Antoine Gara, Jamie John, and Stephanie Stacey of The Financial Times report. Trump is expected to sign an executive order as early as this week to open 401k plans to alternative investments, three people briefed on the president’s plans told the Times. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).

‘WOKE’ AI: The White House is preparing an executive order requiring AI companies with federal contracts to be neutral and unbiased, to combat what officials see as “woke AI,” The Wall Street Journal’s Amrith Ramkumar and Annie Linskey report, citing people familiar with the matter. The executive order is part of Trump’s plan to win the AI race with China, including chip export promotion, according to the report.

UAE CHIPS DEAL: Some Trump administration officials are holding up finalizing a deal for the UAE to buy Nvidia (NVDA) AI chips over concerns that China could access the chips, The Wall Street Journal’s Amrith Ramkumar and Eliot Brown report. The agreement involves the UAE receiving Nvidia chips to build AI data centers with U.S. tech firms, people familiar with the talks say, adding that the disagreement might not be resolved unless the UAE. agrees to different terms to address the U.S. officials’ national-security concerns.

CHIPS TO CHINA: After the Trump administration shut down sales of an AI chip the company designed for China, Nvidia CEO Jensen Huang became a globe-trotting negotiator as he worked to persuade President Trump to reverse the decision, Tripp Mickle of The New York Times reports. He traveled with Trump, testified before Congress, worked with reporters in Washington, and courted allies in the White House. The work has begun to pay off, with Huang recently meeting with Trump and pressed his case for restarting sales of the specialized chips, two people familiar with the meeting told the Times.