Newsom’s California Budget Bolstered by Extra Cash from AI Boom

California Governor Gavin Newsom unveiled a revised budget that shows no deficit for this year and next, as the state draws another boost from the technology and artificial-intelligence boom.

The budget proposal released Thursday shows revenues that are $16.5 billion higher than projections. That improvement gives Newsom, a Democrat, more room to protect programs popular with the party’s voters as he prepares to leave office after the next election, as a potential contender for the presidency in 2028.