President Donald Trump signed his “One Big Beautiful Bill” into law late last week, reshaping how AI, utilities, and clean energy will grow—and who will control that growth. While it quietly supercharged AI infrastructure and telecom investment, the legislation stopped short of giving Silicon Valley a free pass on regulation.
Here’s what changed:
No 10-year moratorium on state-level AI regulations. A sweeping federal bar on state-level AI regulation was scrapped after bipartisan backlash. California, Colorado, and other states can keep enforcing their own rules, like deepfake labeling and autonomous vehicle guardrails.
But AI infrastructure got a green light. The bill sweetens the deal for building out the compute stack behind large language models, with accelerated depreciation for data centers, tax perks for on-site clean energy, and grid resilience funding for “strategic compute nodes.” Hyperscalers and colocation firms will benefit most.
The bill additionally devotes $150 million in funding to DOE to organize and process its data to develop new AI models created to design more energy efficient microelectronics, like semiconductors.