WASHINGTON—President Donald Trump hosted business leaders for a roundtable discussion at the White House on Dec. 10 about facilitating technology innovation.

“Our administration is committed to total dominance in technology,” Trump said.

“Earlier this year I said that the challenges of our time demand a new spirit of patriotism and national loyalty ... and that patriotism is on huge display here in this room with some of the most brilliant people.”

The group met in the Cabinet Room for an afternoon brainstorming session to coordinate efforts.

“Americans are great builders, and in the Trump administration, America is once again a country where innovators get a green light,“ Trump said. ”You have the greatest innovators in the world at this table ... who are competitors and friends.”

He highlighted efforts taken to reduce red tape and expedite business development, saying that 24 regulations have been cut for every one implemented.

Streamlining processes by issuing federal guidelines rather than a patchwork of state regulations will benefit industries, according to the president.

“We want to make it as simple as possible ... and we want to stay number one by a lot,” Trump said, emphasizing the moves his administration is making to reduce power costs.

He said the administration is unleashing “literally all forms of energy.”

Michael Dell, founder and CEO of Dell Technologies, who recently donated $6.25 billion to fund “Trump Accounts” for children, led off the discussion by announcing the investment of “several hundred billion dollars” in semiconductor development.

Among other CEOs in attendance were Enrique Lores of HP, Antonio Neri of HP Enterprise, Arvind Krishna of IBM, and Cristiano Amon of Qualcomm.

Lores said HP will invest an additional $3.5 billion in manufacturing in the United States to build five supercomputers over the next 18 months.

“That will keep the United States ahead of the game both in life science and in AI, but also to keep ahead ... at the national security level,” Lores said.

Bruce Mehlman, executive director of the Technology CEO Council, said, “[There is] a lot of global competition, but you’d rather be playing our hand than any hand in the world.”

Amon of Qualcomm backed Trump’s innovation push.

“You drove our company to continue to be innovating, and I think we’re doing very good,” Amon said, noting the use of his company’s chips in vehicles, robotics, phones, and other high-tech devices. “So we’re just going to keep going forward.”

Administration officials applauded the group’s commitments.

“The key to America’s success is the amazing innovators that we have,” Commerce Secretary Howard Lutnick said during the meeting.

“We are on the edge of everything, and we need to keep being on the edge, and the people at this table and this industry is why America’s great.”