On April 9, the newly established Stanford Leadership Institute at the Stanford Graduate School of Business hosted a high-profile discussion on the strategic role of artificial intelligence in the United States. The event featured NVIDIA founder and CEO Jensen Huang and U.S. Congressman Ro Khanna, moderated by former National Security Advisor General H.R. McMaster and GSB Dean Sarah A. Soule. The conversation focused on maintaining U.S. competitiveness, addressing societal risks, and balancing innovation with regulation. Jensen Huang outlined the AI industry as a five-layer stack comprising energy, chips, cloud infrastructure, AI factories, and AI models, with the application layer serving as the most critical component for future leadership. He argued that the United States must lead across all these layers to capitalize on the ongoing industrial revolution. Huang emphasized removing barriers to AI adoption and accelerating the deployment of practical applications to sustain global dominance. Congressman Khanna highlighted the United States' unique advantages, including its ability to attract global talent, its leading research universities, and a culture of academic freedom that encourages questioning authority. He criticized the historical trend of offshoring manufacturing as a mistake that weakened national security and social cohesion, calling for a return to a robust industrial base alongside financial and innovation sectors. Khanna also addressed the skepticism many Americans hold regarding AI due to economic inequality. He urged leaders to create an affirmative jobs agenda that ensures AI benefits are distributed broadly across all citizens. The discussion also tackled the impact of AI on employment. Huang challenged the narrative that AI simply eliminates jobs, citing the radiology sector where automation has led to increased demand for professionals. He distinguished between specific tasks and the overarching purpose of a job, noting that while AI can automate routine activities, it creates new opportunities. Huang asserted that individuals who know how to utilize AI will ultimately outcompete those who do not, rather than AI itself taking jobs away. Regulation and national security were central themes. Khanna advocated for the U.S. to set global standards for AI, while Huang noted the difficulty of regulating rapidly evolving technology. General McMaster illustrated this challenge by comparing it to asking the Wright brothers to write maintenance manuals for modern jets before developing new aircraft. All speakers agreed on the necessity of balancing regulation with innovation and navigating global competition with cooperation. Huang stressed that the U.S. can compete with China without being anti-China, emphasizing an open and welcoming environment for diverse backgrounds. Concluding with a message to students, Huang presented the AI revolution as an unprecedented opportunity where no one has a head start. He encouraged the next generation to engage deeply with the technology, promising that the industry is ready to collaborate with them to build the future. The event underscored a shared commitment to fostering an ecosystem where AI drives progress while addressing ethical and socioeconomic concerns.