Trump says he doesn't like short sellers, but US Treasury researchers release bearish AI report Trump publicly stated at the White House yesterday: Short sellers are in big trouble, they are being liquidated, and I never like short sellers because they are betting against the country. He shouted to buy a Dell computer that day, and Dell's stock price rose 8% that day. He specifically thanked Micron Technology for donating $250 million to Trump's account and stated that the market will soar, encouraging families to continue investing instead of cashing out and leaving. In the same week, independent news outlet NOTUS disclosed that it had exclusively obtained an internal draft report from the US Treasury Department. The report was written by a professional analyst at the Ministry of Finance and submitted to Treasury Secretary Bessent, Federal Reserve Chairman Warsh, and various federal financial regulatory agencies. It has been completed for several weeks and is awaiting formal approval. Once approved, it will be made public to the public. The report systematically compares the current AI boom with the Internet foam in 2000 and draws the following core conclusions: AI enterprises are more deeply embedded in the American economic system than those in the Internet era. The head companies invest in each other and cross market. The industry is highly concentrated in a few enterprises, and heavily relies on private financing and data center heavy asset investment. Supply chain disruptions, geopolitical tensions, power bottlenecks, and insufficient supply of public utilities may all hinder growth. Different from the Internet era, the current participation of retail investors is lower. Once it goes down, the impact will be more concentrated on institutional investors such as big banks, hedge funds and private credit institutions. At the same time, the report points out that the current AI head companies are more mature, more profitable, and have healthier balance sheets than in the Internet era, and there will not be a 2000 year flash crash. But analysts believe that the risks borne by investors are so great that the stability of the entire financial system depends on whether AI can achieve the expected productivity growth and profit goals. A spokesperson for the Ministry of Finance responded to NOTUS stating that the report has not been reviewed and does not represent the policies or views of the Ministry of Finance. The spokesperson reiterated the official position that AI will become a key driving force for the new golden age in the United States. On June 25th, US Treasury Secretary Bessent publicly praised tech giants for investing $750 billion this year in building AI infrastructure in New York. At the G7 meeting, leaders of other countries pointed out that the main risks of AI lie in security and employment, but Bessent countered in person that the biggest risk of AI is China running ahead.