Ministers from the Group of 20 adopted the Carolina Principles at the Innovation Ministerial meeting in Chapel Hill, North Carolina, on September 1-2. All 20 members endorsed the non-binding framework that favors existing sector-specific rules over new dedicated AI oversight bodies, a diplomatic win for the Trump administration. China signed on too, aligning the world’s two AI superpowers. The principles prioritize investment in foundational AI research, protection of intellectual property and workforce development programs. The summit also produced AI Prosperity Objectives focused on workforce development and an AI Prosperity Compact for private-sector partnerships across G20 nations. The framework contrasts with the EU’s AI Act, which categorizes AI by risk level. Nvidia CEO Jensen Huang and OpenAI’s Sam Altman were among industry leaders present. On the day of the remarks, Nvidia shares rose 3.21% to $224.41.