President Donald Trump signed an executive order Thursday evening that seeks to limit the ability of states to regulate artificial intelligence and prevent the enforcement of existing state laws.

AI companies "want to be in the United States, and they want to do it here, and we have big investment coming. But if they had to get 50 different approvals from 50 different states, you could forget it," Trump said at a signing ceremony in the Oval Office, flanked by Sen. Ted Cruz, R-Texas, Commerce Secretary Howard Lutnick and other key White House officials.

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The order comes on the heels of a failed push to enact similar policy in Congress in late November, which followed a similar unsuccessful attempt in July

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