Maryland Gov. Wes Moore & the AI Buildout 9/15/26

0:00Never bet against American grit or American energy. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

0:30This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com slash marketupdatepodcast or find Schwab Market Update wherever you get your podcasts. Bring in show music, please. Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod. 2026's midterm election in under 50 days. Will public opinion on technology and AI weaken the Republican agenda and the majority?

1:17Maryland's Democratic Governor Wes Moore. I think there's a collective, honestly, just bewilderment in the way that we've been approaching AI collectively. The artificial intelligence inflection point, the pace and the power. We'll hear from the manufacturing CEO who built a new company to fill the gap we aren't talking about. How to make it all run. Flex's Ravathi Advaiti. I will tell you we're behind on infrastructure in every way. Across the country. Across the country, mainly talking the U.S. at this point in time, particularly around the power sector. Plus, these AIs, do they really want to kill us or just take over our lives and economy and tear away any sense of human community?

2:01By the time it really happens, I'll be wheeling myself around and just shaking my fist like I do at clouds. You're already doing that, so we're there. It's Tuesday, September 15th, 2026. Squawk Pod begins right now. Stand Becky by in 3, 2, 1, cue it please. Good morning, everybody. Welcome to Squawk Box right here on ZNBC. We are live from the Nasdaq market site in Times Square. I'm Becky Quick, along with Joe Kernan and Andrew Ross Sorkin. Hi. Good morning. In time, President Trump now doubling down on his defense of AI and American businesses, moving full speed ahead, he says, into the technology.

2:42In a series of social media posts yesterday, the president backed data centers and called claims that AI could take over the world a hoax. In an early afternoon Truth Social post, the president asked, quote, when in the history of business did anyone see the leaders of an industry call for regulation that, if strongly implemented, would drive them into oblivion and bankruptcy? Earlier, he blasted Anthropics CEO Dario Amadei and said, quote, the only controls or guardrails that AI needs is a strong and smart, high IQ president, and the USA has that in spades, exclamation point. At one point, the president called NVIDIA CEO Jensen Wang as Wang was on stage at the All-In Summit in Los Angeles.

3:24Wang ends up putting the president on speakerphone, where he again called fears over AI a hoax. Data centers are great and they make people wealthy and they make states wealthy. And it's the oil of the next 20, 25 years. It's bigger than the Internet and the AI, you know, much more so. And they're just playing right into the hands of a lot of people that don't want to see it happen. And that could be political people. It could also be China. And we're not going to let that happen. It's a it's a hoax. And you're right. We're not going to let that happen, sir. No, we're not going to let it happen.

4:03The robots are not going to be taking over the world. And that's not going to happen. President Trump also recently spoke with another top tech leader as MS Now saying that OpenAI CEO Sam Altman met with the president backstage at the GOP midterm convention last Thursday following the viral warning from former anthropic researcher Jacob Coxon about his concerns about what's happening with AI. We're going to beat it to death, but I don't know. I slept OK last night. I told you the one thing that that makes me gives me pause is Musk. I mean, if Musk hadn't said it, I'd be writing it off probably almost completely.

4:43But I'm just a little bit bummed because I haven't even had a chance to breathe a little easier about the climate apocalypse now that that's over. And immediately back to this. What is shocking is that Skynet and the possibility of Skynet, it seems so science fiction like with Terminator. And we've actually had someone say, I guess it was yesterday, maybe last week, that if you had overall AI controlling thousands of really functional human-like robots. And drones. And drones. That is, and then we're talking about within, that is Skynet. That is Skynet. And I just can't believe that it has just the even people conjecturing it could become reality.

5:31It has happened that quickly. I hope I like I said, I'm ready to roll the dice, Andrew. But, you know, I'll probably by the time it really happens, I'll probably be wheeling myself around and just shaking my head. It's my fisted sky like I do at clouds right now. By the end of the decade, you're already doing that. So we're there. Already shaking my fist. More from and I tend to agree with these guys. More from President Trump's former AI czar, David Sachs, who you just saw on stage during the taping of the All In podcast. Speaking with CBS News, Sachs said AI CEOs shouldn't be in charge if they're so concerned that their products will lead to disaster.

6:20I mean, you're the leader of this company. Why are you acting like this is something that you can't control? If you can't control it, then don't do it would be my my view or step aside for people who can. Sachs repeated his contention that AI companies don't need government intervention to make their products safe. They could do it themselves. I mean, it's just, you know, just breathing easier. There hasn't been a hurricane in the Atlantic yet this season. It's the first time in 60 years for that. But now I'm not worried. Now I'm worried about this. Look, the one thing I will say is it's tough to have self-regulation in a competitive industry where you are charging ahead, trying to be the leader, thinking it might be a winner-take-all type of scenario.

7:04Like social media. Right. You may have concerns and think maybe we shouldn't do this. But I go back to what Gordon Bethune used to say about the airlines. You're only as smart as your dumbest competitor. And that is, you know, the idea that some of these guys are calling for a regular, some regulatory oversight to make sure that if there are rules, we're all going to follow them. So I'm not at a competitive disadvantage. I can understand that. And maybe it goes back to the idea of having something like you've mentioned in the past, like a FINRA. That's what Mark Carney said yesterday as well. And he was questioned, why don't you think the government should be having oversight?

7:42And he said, look, you can't let the perfect be the enemy of the good. If you can get some sort of regulatory like a FINRA thing, maybe start with that and see where you go, because it does take a very long time for legislation to work its way through. Two things. One is the idea that he doesn't think that Dario or Sam or one of these people should be running these companies. I think we should be so happy that they're running these companies, because if we had people who had no interest in regulation, had no interest in telling us what's actually happening inside these companies. By the way, the kind of CEO who wouldn't be worried about these things, we wouldn't know about any of this.

8:16So I actually think that we should be thankful that people like Elon and Sam and Dario are working on this. The other thing, though, that I've been thinking about a lot even the past week is, you know, There was a bill that said you should be able to unplug the AI, this whole idea that all we have to do is be able to unplug the AI. That's silly. But it's so silly at this point, because if you really understand what these swarms of agents are able to do, they're able. They're already out there. We're not going to know when to unplug it, meaning we're not going to know what they've done. They will have already gone off, done all the things, hidden what they've done.

8:56And by the time we want to actually unplug it, things will have already gone awry. So I don't understand the sort of let's just let it ride scenario here that's being described. I would think you would want some safeguards on these systems and some regulation. And I'm unclear why. And I'm also unclear why even Jensen, for example. No, no, no, I'm unclear because there's such a supply constraint that even if they were to slow down some of this, the next couple of years, they are more than fine. And by the way, hopefully, if you slow things down even marginally, you might actually have an even better plan going forward.

9:38I know, but for Jensen, it's probably, I mean, it's a slippery slope. You want to try and nip these things in the butt, I think, before the hysteria gets out of control. Right now I'm wondering whether it's so early and we're already ascribing a lot of human traits to the agents in the swarms. And I'm just wondering if I do that with my dogs. I anthropomorphize them. Always it's going to be unhappy that we're doing it. They have no idea. I don't think they're so in the moment. I did read that. You did read it. We're talking about ascribing. Even if we're saying, if we're over-humanizing right now, I mean, it's so early.

10:21And if we're already here, I mean, five years from now, they're definitely, whatever ill intentions that that article was talking about, they'll have them by then. But can't we all just get along? Why do we just assume that they're not going to like us, Andrew? We created them. Because we've already seen what they've done. Yeah, but why should we, why would they be anti-human? Why do we just assume that that's the default? We can control them and shut them off if we don't like what they're doing. Nobody likes being controlled. So they don't, there we go. Nobody. It's an actual, it's a body at this point.

10:53Well, anything with a consciousness doesn't like being controlled, let's say. It's a risk you run. I just really, I don't know if anyone really knows. Like a tiger. At this point, I think it's in the future. We definitely need to worry about this stuff in the future. And I guess if we don't start now, it's going to be too late. I guess that's the bottom line. Apple out with a new iPhone operating system just days before its latest phones hit store shelves. iOS 27 includes the company's redesigned Siri AI personal assistant in beta form. Apple says users will have to opt in through their settings app, though they may have to add their names to a waitlist before getting access.

11:33A version of Apple's AI powered Siri announced in 2024 was delayed last year. I got the new one, by the way. I did it last night. You got it? I mean, I downloaded the new iOS. Yeah. It seems a little faster. I don't know. But it doesn't feel so vastly different. And did you turn on the settings to get into the beta? I've asked for it. And you're on a wait list? I guess so. Tees will be next. Coming up next on Squawk Pod, Maryland Governor Wes Moore. When will you decide when and if you're going to be running for president? Well, I know I've got 40, you know, 49 days in a wake up until until my reelection.

12:16And I am laser focused on that. But the thing that I do know is that we will be part of the conversation next year. We'll be right back. Never bet against American grit or American energy. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

12:56This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com slash marketupdatepodcast or find Schwab Market Update wherever you get your podcasts. Hey, Chicagoland, the Wayfair store is in your neighborhood at Edens Plaza and Wilmette. Finally, you can feel the fabric, sit on the sectionals, and even open the refrigerators.

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13:58Welcome back to Squawk Pod from CNBC. Hop on Becky. Thank you. We're just seven weeks away from the midterm elections, and Democrats are now competitive in states that voted for President Trump in the last cycle. Joining us right now is one Democrat up for re-election, Maryland Governor Westmore. Governor, thank you for being with us. Thanks so much. Thanks for having me again. All right. Let's talk a little bit about the midterm elections, but maybe start with your race. I think the prediction markets have anywhere from 94 to 97 percent probability that you will be reelected. Very strong odds in your favor.

14:33Why don't you talk about what you're seeing right now in Maryland? You know, we're we're running hard. You know, you don't take anything for granted. But I think part of the reason we feel good is because we're focusing on the things that people care about and we're delivering results for them on it. You know, when when people said that we want to focus on on crime and violence in our society, that, you know, we didn't all the above strategy on dealing with violent crime. Violent crime in Maryland is now down nearly 60 percent. It's a it's the fastest drop in the United States of America. And if you look at Baltimore City, for example, the last time the homicide rate was this low, I wasn't born yet.

15:07You know, when people said we want you to focus on helping to grow the economy. You know, we said we're going to focus on things like permitting reform and regulatory reform and make it easier for businesses to be able to grow. We've added over 60 ,000 new businesses inside of the state of Maryland. We have over$14 billion of private investment that's now come inside of the state of Maryland. So we're delivering on the things that I think people ask us to, and I think that's why we're feeling good. Let's talk about an issue that has become more of a hot potato around the country these days, and that's AI data centers in particular.

15:40You, at one point a few years ago, were very much in favor of those data centers coming in. You have taken a more nuanced stance at this point where you think local officials and local people need to be making some of these decisions. But you're the Democrat who has been more in favor of AI data centers. Your opponent, a Republican, has actually put it in his platform that he'd be opposed to these data centers. That's the reverse of what we're seeing around the country right now. Why don't we talk about the data centers, what's happened in Maryland and where you see this headed? Well, you know, what's interesting is, you know, my opponent I'm running against, he was the one who actually introduced legislation before I was ever in elected office that actually introduced data centers and provided all the incentives for data centers.

16:26So he's actually the one who brought data centers to Maryland in the first place. And so when I came on board, literally as early as earlier this year, I started ringing the alarm and saying, you know, we have got to be able to have a system that makes sense. Because before then, because of the policies he put on board, data centers were calling their own shots. They were determining where they went. You mean in terms of power increases that residents have had? Power increases, where they were located, what they could do, overriding local voice. And so earlier this year, I put together amongst the strictest guidelines in the country about how we're dealing with this and saying for all the data centers that you must be able to bring your own energy, bring your own power.

17:06The taxpayers were not going to pay a cent for that and also be able to do all your all your renovations. You pay for that, saying that you cannot pollute our air. You cannot pollute our water. You need to hire local union workers and you do not get to override local jurisdictions. And so it was amongst the strictest guidelines that we have in the country, and we put those in earlier this year. And what has that meant for data centers that are coming to Maryland? There were already some big ones that were in the works that were being built. What's that meant for new development? Well, I think it means that, you know, I believe in critical infrastructure, but I also believe that local jurisdictions need to be able to have their voice.

17:42And I believe that we get to write the rules. The data centers do not. And so, you know, while we want critical infrastructure, they also know that that, you know, we demand transparency. We demand support for our people and support for our locals. And also that we know that they know that when they're coming in, that they are coming into guidelines that have been laid out, not guidelines that they are laying out for us. Bring this up. And we're we're talking about it so much today. It's been a constant conversation, not just today, but this week and in the weeks leading up to this. it's something that former President Obama has now said he thinks should be front and center for the Democrats in their run is a ban on AI data centers.

18:21The Trump administration obviously takes a different tack. And there are a lot of people that we've spoken with in business who say you've got to be careful if you put a moratorium on these things, if you really slow things down, that we as a nation will fall behind if we are not building out this critical infrastructure, if we're not keeping up with things. Well, I think there's a collective honestly just bewilderment in the way that we've been approaching AI collectively. You know, I can tell you over the past 72 hours, I have been on the horn with at least half a dozen, both current governors and former governors, Democrats and Republicans, who are very concerned and actually confused behind what we are hearing from Washington, D.C.

19:03on this very issue. We believe that, you know, that AI can be utilized for real transformation when it comes to health care and education and we're utilizing it within our states. But there have to be guardrails. There needs to be a clear understanding as to what is happening. So when you're having the nation's governors, both Democrats and Republicans, who are sounding the alarms and feel like we're not at the table in these conversations, and when you're having the tech leaders who are saying that we need to be able to have greater controls and guardrails on this, it just feels like at this point the Trump administration is on an island on this, where everyone else is calling for more involvement and more transparency.

19:41And we're just hoping that Washington can actually catch up to where the people are. You've been mentioned repeatedly as someone who could seek higher office run for the presidency in a couple of years. If you win reelection as governor, when will you decide when and if you're going to be running for president? Well, I know I've got 40, you know, 49 days in a wake up until until my reelection. And I'm laser focused on that. But the thing that I do know is that we will be part of the conversation next year because I think about it this way. And that doesn't mean running for office, running for higher office.

20:18But what it does mean is this. There's been no state that's been more affected by what we've seen from the Trump administration. We've had over 31 ,000 people fired in a year. That's more than any state in this country. We have had billions of dollars taken away. We have not received a single dollar in federal disaster relief. We have had hundreds of thousands of people kicked off of health care. But despite being the most affected, I'm not sure if there's been a more effective state in terms of not just pushing back on the Trump administration, but pushing forward, making sure that we're doing things like, you know, really driving utility relief to our people, making sure we became the first in the country that now has a service year option for all of our high school graduates.

21:01So essentially offering a jobs guarantee to our to our young people as they're then transitioning into into the adult world that we've been able to make sure we're focusing on things like giving the middle class a tax cut inside in this climate. And so, you know, so I think Maryland has earned a voice in this conversation about how does this nation focus on repair going forward? Can I just ask you nationally about the Democratic Party and sort of where you think you sit relative to where it feels like or seems like there's an extraordinary amount of energy? And part of that energy is around the DSA and around some candidates that I think we here at the table often argue seem more radical than somebody like yourself and how you think about them.

21:45Yeah. Well, you know, honestly, I think that I don't really think about it that much because it's not something that I'm hearing from my people. Like, you know, when I'm when I'm going around Maryland, you know, I feel like oftentimes it does feel like a bit of a bit of a Washington game about what part of a party that you are a part of or what silo you're a part of. The people who I'm talking to, they're just like, who's going to help me make sure that I'm sure. But you're watching TV. You could see the mayor in this city or you could see what's happening in Michigan or you could go around the country and you've got eyes.

22:19What do you think of those? What do you think of those politicians? And to the extent some people say, look, the Democratic Party is supposed to be this big tent situation. Others say that actually people like yourself who are in the middle should be calling out the people on the edges. The primary wins of some people that have. I'm not going to go into some of the policies because you you you I'm not going to make you, you know, respond to defunding the police or getting rid of the presidency or, you know, abolishing the Senate or getting rid of prisons or open borders. I did it again, Cicero.

22:55I said I'm not going to go into it. One one like John Fetterman. He's like a voice in the wilderness of the Democratic Party who's got enough intestinal fortitude to buck trends. I mean, Chuck Schumer is the is the head of this won't say a word about any of this stuff. Well, I told you that what the middle lane is wide open for you, Governor. It's wide open, wide open. take it. No, but I think because the reason is because I focus on results. This is another way of deflecting whether you disagree with these crazy DSA policies. Look at our platform. So that's a yes? No. You know what we did when we were addressing the issue of violent crime in our society?

23:37We made historic investments in local law enforcement. You don't think we should close down prisons then? No. Okay. Well, then you're against... Yes, but we made historic investments in local law enforcement, right? And we made historic investments in community violence interrupters. So by your actions, we know where you stay. Correct. But it's not even just by our actions and what we did. The reason that I stand by that is look at the results, right? We made historic investments in local law enforcement and we made historic investments in community violence interrupters. We invested in making sure that people could be prosecuted for violent crimes and we made historic investments in people who were returning home from incarceration.

24:11And we have amongst the fastest drop in violent crime anywhere in the United States of America. So I just I don't govern on ideology. I govern on results. I got a different one for you then. Yeah. OK. So you supported Vice President Harris in this last campaign. I did. I don't know if you saw Gavin Newsom just said yesterday that he would not seek the presidential office if Harris decided that she was going to run again. OK, I didn't see that. OK. What do you think of that? I mean, I didn't I didn't see it. I think you think that she should try to run again or you think Gavin? should try to run.

24:46I think that he basically made it an either or. Well, I did not see that. And that's his process. That's his process. I think that there is nobody who's earned the right to make her own decision more than Vice President Harris. I think if she chooses with what she has done and what she's what she has accomplished, if she chooses to run, I think she has absolutely earned the right to run. And whether or not that impacts how other people are thinking about it, I think that's on them. But I think she's absolutely earned the right. But if it was on you, would you run if she was running? I think you went round about it.

25:24Gavin Newsom said he wouldn't. Would you back away if she was? I don't think that when I ran for governor, and that was the first office I ran for in my life, right? I'd never run for political office before, who was getting in was not necessarily a factor. So you would. Oh. Oh, now we have two more. No, it was not. That is not a, that was not a factor. So you might, you might, then if you thought you would be a better, more viable candidate, you might, you might run. When I, when I ran for governor, I knew I wanted to address the issues of child poverty. I knew I wanted to address the issues of the racial wealth gap.