According to President Trump, the tech executives agreed to establish a voluntary mechanism for AI oversight, instead of a legally binding system at the federal level.

Under the agreement, AI companies will introduce internal safety controls and allow independent auditors to assess whether their AI systems are operating as intended, as concerns mount over AI safety.

"It's almost like a Constitution in a way, and the biggest ​people in the world signed that and ​I signed it as president and it really ⁠is a form of protection," Trump told ​reporters after the meeting. He also repeatedly praised the business executives for developing a technology that he said would produce “unbelievable growth."

Alongside economic expectations, there have been more and more warnings of AI's downsides. Anthropic CEO Dario Amodei, one of the more prominent advocates for greater AI oversight, said after the meeting: "I think the technology has a real risk and you know, the mechanism, how we address those risks is still under discussions. But we all need to work together to make sure that we can win and we win safely. If we do this right, we worked with the President, everyone here, we can win."

President Trump said he is considering setting up a 10-member board to oversee AI safety. He described the new agreement as "morally binding" and added that he would soon announce a new official to oversee the agreement after further consultations.