The new framework suggests a strong US open-source AI network has “geostrategic value” because it could underpin businesses and academic research globally.

Star founders, Beijing officials and deep-pocketed financiers converge on Shanghai by the thousands this weekend to attend China’s most important AI summit. At the top of the agenda: how to propel Beijing’s ambitions to leapfrog the US in artificial intelligence — and profit off that drive.

Khoury, CEO of ON Semiconductor, joins CNBC's Money Movers to discuss President Trump's AI plan unveiled on Wednesday, what the plan means for the semiconductor industry, and more.