Former Commerce Secretary Gina Raimondo Talks AI Race

Summary

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Bloomberg Talks

Episode: Former Commerce Secretary Gina Raimondo Talks AI Race
Date: July 15, 2026
Host: Bloomberg
Guest: Gina Raimondo, Former U.S. Commerce Secretary and head of "Raise Us"

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Episode Overview

This episode centers on the intersection of artificial intelligence (AI) advancement in the U.S., sociopolitical concerns about its impact, and the delicate balancing act between pushing technological leadership and safeguarding American workers. Gina Raimondo, now leading the nonpartisan group "Raise Us," provides insight into how the U.S. should manage AI's economic disruption, workforce challenges, and competition with China, while also weighing in on current policy debates, like New York’s data center moratorium.

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Key Discussion Points & Insights

1. The Mission of "Raise Us" and Workforce Adaptation

[01:11]

• Gina Raimondo introduces "Raise Us" as a response to America’s need for an AI strategy inclusive of all workers.

  • America must lead in AI globally, but not at the expense of sidelining workers.
  • Highlights outdated infrastructure and lack of robust social insurance and retraining incentives.
  • Calls for collaboration with both parties’ governors and the private sector.

  "We want the US to lead the global AI competition, but to have a strategy so that every American worker gets brought along. And right now we're not headed down that path. And it's something I'm deeply worried about." (Gina Raimondo, 01:14)

2. Data Center Controversy: The New York Moratorium

[02:22] - [03:46]

• Hosts reference New York’s moratorium on new hyperscale data centers, rooted in concerns about power grid strain and cost increases.

• Raimondo acknowledges legitimate public anxieties:

  • Rising electricity bills, job insecurity, and future of work.
  • Stresses that halting technological progress is counterproductive—but so is ignoring local community impacts.

  "I don't think, like no one is happier than the president of China that we are slowing down data center construction, that being said, it's not okay if people's electricity bills are going up or people's water bills are going up, or people's economic security is going down because of, you know, AI companies." (Gina Raimondo, 02:57)

  • Advocates for policies ensuring tech companies "pay their fair share" and that economic benefits are broad-based.

3. A “Grand Bargain” Between Public and Private Sectors

[03:46] - [05:05]

• Hosts raise Raimondo’s call for a new compact on AI and ask about the Trump administration’s idea of taking equity stakes in major AI companies.

• Raimondo responds:

  • Supports the idea of sharing AI’s commercial surplus with the public but is wary of direct government equity involvement.

  "I just, you know, the government owning the means of production is, you know, the definition of socialism. I think it creates a lot of problem, potential for corruption. So I think the intention is a good intention. Personally, I just get very nervous if we're stepping down a path of like a state owned enterprise..." (Gina Raimondo, 04:36)

  • Suggests finding alternative mechanisms to align AI profits with public benefit, without full government ownership.

4. U.S. Competitiveness vs. Worker Stability: The China Question

[05:05] - [07:10]

• Discussion turns to how the U.S. can remain competitive against China while avoiding mass workforce disruption.

• Raimondo argues for a national, intentional transition plan:

  • Warns unchecked AI implementation could provoke regulatory backlash and socio-economic instability.
  • Emphasizes need for public assurance about the future of work and inclusive prosperity.

  "If we as a nation put our blinders on...and if we wake up in a couple of years with millions or tens of millions of Americans put out of work because of AI, we will lose the global air race because there will be massive regulatory backlash. It will be massively destabilizing to our economy. It'll be recessionary. It'll be massively destabilizing for our politics." (Gina Raimondo, 05:59)

  • Sees "moratoriums on data centers, other kinds of uprising" as symptoms of a public unconvinced about AI’s promise for their futures.

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Notable Quotes

• On balancing innovation and equity:

  "Let us be intentional about how we transition to an economy, because quite frankly, every American deserves to see themselves productive and having a good job in that economy." (Gina Raimondo, 06:35)

• On U.S. leadership stakes:

  "No one is happier than the president of China that we are slowing down data center construction..." (Gina Raimondo, 02:57)

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Timestamps for Important Segments

• 01:11 – Introduction to "Raise Us" and its mission
• 02:22 – Discussion of data center moratoriums and public anxiety
• 03:46 – The “grand bargain”; government vs. private sector roles in AI profits
• 05:05 – Balancing competitiveness with worker security, lessons from China comparison
• 07:10 – Closing remarks and thanks

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Memorable Moments

• Raimondo’s candid skepticism about state equity stakes in tech companies and her nuanced stance balancing capitalism’s flaws and socialism’s pitfalls.
• Her direct acknowledgment of the “massive regulatory backlash” risk if AI displaces millions of workers—underscoring the stakes of the current moment.

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Summary Takeaway

This episode lays bare the high stakes facing the U.S. as it seeks to maintain global AI leadership without igniting domestic instability. Gina Raimondo pushes for a middle path: rapid tech adoption built around smart, inclusive, and proactive labor policy, underlining that the AI race is not only a technological endeavor—but fundamentally about the fate and well-being of American workers.

Transcript

[IBM Executive]

The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across hr, IT and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM,

[Gina Raimondo]

Bloomberg Audio Studios, podcasts, radio news.

[Host 1]

Let's turn to this. The build out growing as a political flashpoint. New York State leading the pushback, becoming the first in the nation to issue a moratorium on new HyperScaler data centers. PJM, the largest grid operator in the country, saying datacenters have increased supply costs by more than 60%. The former U.S. commerce Secretary, General Raimondo, is leading Raise Us, a nonpartisan organization designed to help the American labor force adapt to AI. The secretary joins us now for more. Madam Secretary, welcome to the program. Let's just start the conversation with the kind of work you're doing and what we need to know this morning.

[Gina Raimondo]

Good morning. Good morning. So Raise Us is the new organization that I am leading. And our mission is very simple. You know, we want the US to lead the global AI competition, but to have a strategy so that every American worker gets brought along. And right now we're not headed down that path. And it's something I'm deeply worried about. We have extremely outdated infrastructure, social insurance, support for workers, incentives for companies to retrain and redeploy instead of just laying people off. And so I think it's time that we get to work. We're working with governors of both parties. This is a nonpartisan, nonpolitical effort with companies and just trying to find some creative, innovative solutions. Because I will tell you, one of my greatest worries is even if America has the best chips, the best models, the most data centers, but doesn't have an intentional plan to manage this transition and falls into a period of very high unemployment, we will lose the race because that will be too destabilizing.

[Host 2]

What's your reaction, though, to what New York Governor Kathy Hochul is doing in terms of the moratorium? Because this potentially can slow down how quickly the US can advance in the AI space. Right.

[Gina Raimondo]

So I think this is a perfect example of what we're trying to do, which is to say Americans are worried, right? They're worried about when, when the average American hears AI. What they hear is, I'm going to lose my job, my electricity prices are going up, my Kids won't have a job. I just spent money for college. Those are real, legitimate, valid anxieties and we have to find solutions to address them. So while I don't think, like no one is happier than the president of China that we are slowing down data center construction, that being said, it's not okay if people's electricity bills are going up or people's water bills are going up, or people's economic security is going down because of, you know, AI companies. So we must find a way to do both. Steam ahead with data centers and technology and make sure, you know, these companies pay their fair share so other folks, electricity bills don't go up and people have frankly, a job, a meaningful job in an economy.

[Host 2]

You recently wrote an opinion piece where you said, what we need is a new grand bargain between the public and private sectors when it comes to AI. What do you make of the Trump administration looking at taking equity stakes, another version of industrial policy that some of which started under the Biden administration?

[Gina Raimondo]

Yes. So listen, I do think it is a good idea for the American people and the American government to share in the extreme profit and commercial benefit of AI. That being said, I personally have always been a bit of a critic on the government taking big equity shares of companies. You know, I'm, I'm still a believer in capitalism, however many flaws it has right now in the way it's playing out in America. And I just, you know, the government owning the means of production is, you know, the definition of socialism. I think it's creates a lot of problem, potential for corruption. So I think the intention is a good intention. Personally, I just get very nervous if we're stepping down a path of like a state owned enterprise, etc. So I, I'd like to find another way.

[Host 3]

How do you balance the idea of trying to create some sort of pact with the U.S. worker, with the U.S. average citizen, while also maintaining a U.S. edge versus China. Right. I mean, do you want to sort of create this sense that there is isolation between the two stacks? I just wonder what the ultimate goal is, what the approach you're hearing from some of the folks you're speaking with.

[Gina Raimondo]

You know, I think if you talk to the tech companies in AI, many of whom are partners with us and raise us, they feel that they're in a global arms race to, you know, get ahead of each other and also get ahead of China and other technologies. And I, I understand that, but I will say this. If we as a nation put our blinders on and, and if every company just moves forward at pace to implement AI to increase profits without a people strategy. And if we wake up in a couple of years with millions or tens of millions Americans put out of work because of AI, we will lose the global air race because there will be massive regulatory backlash. It will be massively destabilizing to our economy. It'll be recessionary. It'll be massively destabilizing for our politics. So what I'm trying to say to business leaders, to governors, to Congress, to everyone in America, is let's get together and find solutions. Let us be intentional about how we transition to an economy, because quite frankly, every American deserves to see themselves productive and having a good job in that economy. And until we convince the people of America that there's a good future for them in an AI economy, you're going to continue to see what you what you just asked me about moratoriums on data centers, other kinds of uprising. And that's bad for America. That's bad for everyone in America.

[Host 1]

No doubt that debate is going to continue. We look forward to covering it with you, the former U.S. commerce commerce secretary Gina Raimondo there. Madam Secretary, thank you.

[Karen Moscow]

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