Table of Contents
Apple Meta and Google at the White House: Billionaire technology executives rarely need to curry favor over meals. However, dining at the White House represents a notable exception. President Donald Trump’s gathering with America’s tech industry leaders underscores how central the artificial intelligence revolution has become to both political strategy and economic policy.
Meta Platforms chief Mark Zuckerberg and OpenAI’s Sam Altman stood out among executives offering praise for Trump’s leadership during Thursday’s gathering. Notably absent was their competitor Elon Musk—head of Tesla and xAI—despite receiving an invitation.
Beyond the political necessity of maintaining presidential relationships, these meetings offer tangible advantages for business leaders. Trump discussed ensuring adequate energy supplies for expanding data center operations while indicating which companies might avoid semiconductor tariffs—with Apple’s Tim Cook receiving specific recognition for committing to domestic investments.
However, investment decisions cannot simply follow invitation lists. Nvidia’s Jensen Huang was absent from the dinner, as was Broadcom’s Hock Tan—though he may have been focused on his semiconductor company’s strong quarterly earnings announcement Thursday. Despite their absence, both firms stand to gain from government-supported AI investment initiatives. Apple Meta and Google at the White House.
The primary insight from both the dinner and recent financial results shows that infrastructure and hardware investments remain the most secure AI opportunities. Friday’s employment data could provide additional momentum by influencing interest rate decisions that affect capital expenditure costs. Meanwhile, software companies like Salesforce face challenges proving they can withstand competition from AI-first rivals.
The critical question remains whether AI investments still offer attractive entry points or if investors should exit the sector. Trump’s dinner indicates substantial opportunities remain available.
Trump’s Legal Team Responds as Fed Dispute Heats Up
President Donald Trump’s attorneys are challenging Federal Reserve governor Lisa Cook’s attempt to temporarily halt her termination, asking a federal judge to reject Cook’s emergency restraining order request while characterizing her legal arguments as “misguided and futile.”
Cook has filed suit to retain her position following administration allegations of mortgage fraud. The Justice Department continues investigating these claims, and Cook faces no convictions for wrongdoing. She contends her dismissal violated due process rights and statutory requirements for notice and hearings.
Trump’s legal representatives argue he was not obligated to await Cook’s guilt determination before proceeding with her removal. They maintain that even providing Cook a hearing opportunity would unlikely have altered Trump’s decision.
Stephen Miran, Trump’s nominee for a Fed board position, avoided discussing Cook’s situation during Senate testimony. When questioned about Trump’s threats to terminate Fed officials, Miran responded, “It’s not my prerogative to have views on such and such a question.”
Senators questioned Miran extensively about Fed independence. Miran characterized independence as “paramount” for economic stability and financial markets, promising to act independently if confirmed as Fed governor. Apple Meta and Google at the White House.
What’s Next: Both sides seek expedited resolution. Trump’s team specifically requested Federal Judge Jia Cobb rule by Sept. 9, allowing potential appellate action before the Fed’s Sept. 16-17 policy meeting, when interest rate decisions are anticipated.
Broadcom Reveals New $10 Billion AI Customer
Semiconductor manufacturer Broadcom announced securing $10 billion in artificial intelligence chip orders from a newly qualified customer, with CEO Hock Tan stating this will “significantly” enhance AI revenue projections for fiscal 2026. This development accompanies third-quarter results exceeding expectations and upgraded guidance.
Broadcom’s fiscal third quarter generated $15.95 billion revenue against Wall Street’s $15.8 billion consensus. Adjusted earnings reached $1.69 per share. Current quarter guidance projects $17.4 billion revenue.
Tan credited record third-quarter performance to sustained demand for custom AI accelerators, networking solutions, and VMware products. The company’s semiconductors compete across networking, broadband, server storage, wireless, and industrial sectors.
Broadcom leads the premium artificial intelligence application-specific integrated circuits market, assisting major technology firms in developing custom AI chips. The customer’s identity remains undisclosed. Apple Meta and Google at the White House.
AI revenue totaled $5.2 billion in the third quarter, representing 63% year-over-year growth. The CEO anticipates accelerated growth in the current quarter, targeting $6.2 billion AI revenue, marking the segment’s eleventh consecutive growth period.
What’s Next: Broadcom’s backlog exceeds $110 billion, primarily driven by AI expansion, Tan reported. The software division also contributes to this backlog. Tan confirmed his commitment to remain CEO through at least 2030.
Goldman to Invest In T. Rowe Price In Retirement Push
Demonstrating Wall Street’s emphasis on incorporating private assets into retirement offerings, Goldman Sachs and T. Rowe Price will partner on funds featuring alternative investments. This collaboration aligns with the Trump administration’s support for allowing alternative investments in 401(k) plans. Apple Meta and Google at the White House.
Goldman commits $1 billion to T. Rowe Price through stock purchases totaling up to 3.5% of the asset manager. T. Rowe represents America’s largest active target-date and retirement product manager.
The partnership will create co-branded model portfolios and target-date strategies providing private market exposure, utilizing Oak Hill Advisors—the $98 billion private credit manager T. Rowe acquired four years ago.
T. Rowe CEO Rob Sharps clarified to Barron’s that while the partnership enables capabilities T. Rowe couldn’t achieve independently, it doesn’t signal Goldman’s acquisition intentions. He emphasized creating distinctive solutions for wealth accumulation and retirement planning. Apple Meta and Google at the White House.
The co-branded funds will compete against BlackRock’s target-date funds incorporating private assets, plus collaborative efforts between Vanguard, Wellington, and Blackstone for multi-asset public and private market strategies.
What’s Next: Marc Nachmann, Goldman’s global asset and wealth management head, believes retirement channels offer expanded opportunities for investment products, particularly in private and alternative assets.
Gap Adding Cosmetics, Beauty Products to Its Apparel Stores
Gap plans to diversify beyond clothing by introducing expanded beauty and cosmetic selections at select Old Navy locations beginning this fall. CEO Richard Dickson announced Gap is also broadening accessory offerings across brands, currently representing minimal sales percentages.
The casual retailer’s new product lines include Old Navy-branded hair and body mist, body lotion, plus skincare, makeup, and hair care from brands including E.l.f. Beauty, Mario Badescu, and Korean beauty companies TonyMoly and Mixik. Most products will cost under $25.
Gap seeks to attract younger demographics and improve financial performance through higher-margin merchandise sales, according to Dickson. The former Bloomingdale’s beauty buyer co-founded online cosmetics retailer Gloss, which Estée Lauder acquired in 2000.
The U.S. beauty and personal care market should reach $129 billion this year, up nearly 4% from 2024, per Euromonitor research. Dickson noted that 70% of surveyed Old Navy customers expressed willingness to purchase beauty products. Apple Meta and Google at the White House.
Competitor American Eagle Outfitters demonstrated viral marketing’s revenue impact. The company reported partnerships with Sydney Sweeney and Travis Kelce generated 40 billion impressions, driving brand recognition, customer acquisition, and sales growth.
What’s Next: Old Navy launched a new handbag collection this week, with all items under $50. The expanded beauty assortment will debut at approximately 150 stores this fall, including 45 featuring dedicated beauty sections and beauty advisors.
Frequently Asked Questions (FAQs) About Apple Meta and Google at the White House
Why did tech CEOs dine with Trump at the White House?
The dinner highlighted the growing importance of artificial intelligence in U.S. politics and economics. Trump discussed energy for data centers, semiconductor tariffs, and domestic investments, making the gathering strategically important for tech leaders. Apple Meta and Google at the White House.
Which CEOs attended and who was notably absent?
Attendees included Tim Cook (Apple), Sundar Pichai (Google), Mark Zuckerberg (Meta), and Sam Altman (OpenAI). Elon Musk (Tesla, xAI), Jensen Huang (Nvidia), and Hock Tan (Broadcom) were invited or relevant but did not attend. Apple Meta and Google at the White House.
How does this meeting affect AI investments?
The dinner signaled strong government support for AI infrastructure and hardware, suggesting secure opportunities in data centers and semiconductors. Software firms, however, may face tougher competition from AI-first companies. Apple Meta and Google at the White House.
What benefits did companies like Apple receive from the discussions?
Trump praised Apple’s Tim Cook for committing to U.S. investments, signaling potential relief from semiconductor tariffs and priority access to favorable government policies. Apple Meta and Google at the White House.
What’s the main takeaway for investors?
Despite political drama, AI remains a high-growth sector. Infrastructure and chipmakers look strongest, while software firms must prove resilience. The dinner reinforced that AI is central to U.S. economic policy. Apple Meta and Google at the White House.
2 thoughts on “Trump Meets Powerful Tech Titans: Apple Meta and Google at the White House 2025”