President Donald Trump’s pitch to cut back publicly traded corporations’ monetary reporting necessities is a non-starter for Big Tech traders, Niles Investment Management founder Dan Niles informed CNBC on Monday. “In technology, where things are changing so quickly, I really don’t want to be investing in black boxes,” Niles mentioned in a ” Squawk on the Street ” interview. “The winner yesterday … may not be the winner today.” Niles’ feedback come simply hours after Trump urged in a Truth Social submit that public corporations report earnings each six months, relatively than on a quarterly foundation. Less frequent reporting necessities would “save money, and allow managers to focus on properly running their companies,” Trump mentioned within the submit. The concept comes simply months after Trump made strikes that might change how different key items of knowledge traders rely on are collected and reported: U.S. financial knowledge. In August, President Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer after the federal company printed lackluster jobs knowledge that sparked considerations over the nation’s financial well being. Despite these considerations, the S & P 500 and the Nasdaq soared to intraday report highs on Monday, as investor curiosity in synthetic intelligence options fuels demand for shares of AI-focused corporations, together with OpenAI, Meta and Google . GOOGL YTD mountain GOOGL 12 months so far Niles informed CNBC that Google-parent Alphabet is prone to achieve a considerable lead on different Silicon Valley heavyweights amid corporations’ jockeying to dominate the generative AI market, pointing to the search-engine creator’s possession of a trove of video content material on which its massive language mannequin, Gemini, might be educated. Google is “going to have the best app in terms of AI because … what makes an AI app smart [is] its data,” Niles mentioned. “They’ve got the most free data in the world because of YouTube.” He added that Google’s better-than-expected settlement this 12 months of a significant antitrust case in opposition to its enterprise leaves the agency with loads of funds to pour into its AI initiatives. “That antitrust remedy was way better than any of us ever imagined,” Niles mentioned. “They can pay to be the default search engine.” Shares of Google’s dad or mum firm Alphabet are up roughly 31% over the 12 months so far.