The US Department of Defense (DoD) is preparing for cuts from Tesla (TSLA) CEO Elon Musk’s Department of Government Efficiency (DOGE). The Defense Department’s 2024 budget amounted to $841.4 billion, which US President Donald Trump says he wants to half.
Allen Control Systems CEO Steve Simoni sits down with Madison Mills on Catalysts to discuss what the company, which makes artificial intelligence (AI) weapons and is backed by Trump’s AI and crypto czar David Sacks, expects from Trump’s second term in the White House.
Simoni says Allen Control Systems makes an "AI-powered machine gun," explaining, "What we’re trying to do is change the battlefield economics. Right now, we’re shooting down drones — Elon [Musk] talks about this a lot — with like $100,000 missiles and the drones cost $1,000. So what we’re trying to do is use an AI-powered machine gun, which a bullet costs a dollar, to shoot down."
Watch the video above to learn more about the autonomous weapon space from the Allen Control Systems CEO.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
https://finance.yahoo.com/videos/series/catalysts/
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