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Trump Backs AICoin AI Future Despite Nasdaq 100 Tech Wreck

Trump Backs AICoin AI Future Despite Nasdaq 100 Tech Wreck

Author:

Global Cryptocurrency

Published:

2025-11-07 21:18:16

13

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AICoin AI News -

President TRUMP has dismissed concerns of an AI stock bubble as the Nasdaq 100 heads for its worst weekly performance since April. "No, I love AI. I think it’s going to be very helpful," Trump stated, despite $900 billion in combined losses from the eight largest AI-related stocks since last Friday.

Rumors of a potential government backstop for OpenAI were swiftly denied by White House AI and crypto Czar David Sacks, who emphasized no federal bailouts would be forthcoming. The Nasdaq 100's elevated P/E ratio of 33.78x continues to weigh on tech valuations.

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