President Donald Trump rejected an industry-led AI regulatory and standards-setting body modeled on FINRA after NVIDIA CEO Jensen Huang, Meta CEO Mark Zuckerberg and SpaceX CEO Elon Musk pressed him to maintain a light-touch approach. Proposed by Google Chief Scientist Demis Hassabis, the body was intended to let the industry establish AI rules and standards, with earlier reporting describing possible pre-release testing of frontier models for cybersecurity, biological and deception risks. The executives reportedly feared it would concentrate power among OpenAI, Anthropic and Google. The dispute reflects a broader White House divide over AI oversight and a Silicon Valley debate over whether safety requires slowing development. Anthropic CEO Dario Amodei has argued that rapidly improving and increasingly automated AI development requires a controlled pace, while OpenAI CEO Sam Altman and Hassabis have partially supported moderation. Huang and Zuckerberg favor engineering safeguards and corporate self-regulation, Amazon supports stronger pre-release verification without halting progress, and Palantir CEO Alex Karp emphasizes corporate accountability. Musk has endorsed Amodei's slowdown argument but opposed an external privately led regulator and has not presented a concrete plan to slow development at SpaceX AI. Existing reporting separately identified White House officials including Susie Wiles, Scott Bessent and Sean Cairncross as favoring stronger review, while the newer account names Susan Rice and Treasury Secretary Scott Baskerville among officials seeking stronger oversight; David Sacks is identified in both accounts as favoring minimal regulation. Trump has argued that tighter rules could benefit China and has supported faster AI development and data-center construction.