"We want to remain No. 1," Trump told the technology company leaders. "We're on the verge of new technological revolutions that could improve virtually every aspect of our lives, creating vast new wealth for American companies and families."

Executives including outgoing General Electric Co. Chief Executive Officer Jeff Immelt, AT&T CEO Randall Stephenson, Sprint Corp. CEO Marcelo Claure and venture capitalist Steve Case, the billionaire co-founder of AOL Inc., were invited to provide suggestions on how the administration should spur private innovation and set appropriate guidelines for new technologies.

In a public session open to reporters and television cameras, the president and corporate leaders offered fulsome praise for each other. Trump told Stephenson AT&T is doing “really a top job.” Precision Hawk CEO Michael Chasen congratulated the president “on the great job you’ve been doing.”

The tech leaders were to hold breakout sessions on drones, connected devices and easing access to venture capital for startups outside traditional enclaves such as Silicon Valley, said Deputy U.S. Chief Technology Officer Michael Kratsios.

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