Trump Calls AI a 'Hoax' in Surprise Call With Nvidia's Jensen Huang

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Summary · why it matters

President Donald Trump dismissed concerns over artificial intelligence as a "hoax" during a surprise phone call with Nvidia CEO Jensen Huang at the All-In Summit in Los Angeles on Monday. Huang put Trump on speakerphone before the live audience, and Trump said the robots and AI will not be taking over the rest of the world, adding that data centers make people and states wealthy and that AI is bigger than the internet. Trump also said critics are playing right into the hands of China, and Huang agreed, saying they would not let that happen. Trump has said the U.S. already has regulatory and criminal powers over AI companies and accused critics of creating a "sick conspiracy" against AI and data centers. Speaking at the summit, Huang praised former Anthropic researcher Jacob Coxon, who resigned over AI safety concerns, calling him courageous and saying whistleblowers should be taken seriously, and said the debate had created a false choice between fast AI innovation and safety. The comments come as OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Elon Musk have raised concerns over AI risks and called for stronger safeguards or slower development, which Trump has rejected, saying tighter oversight could hurt the U.S. lead over China.

Impact on stocks 1

Artificial Intelligence▲ · 1 stocks
NVIDIA Corporation
NVDA
▲ PositiveRegulationrelevance

Trump dismissed AI as a 'hoax' and rejected tighter oversight, signaling a lighter regulatory stance that benefits Nvidia's AI/data-center business.

Theme Impact 2

Off-coverage companies 2

AnthropicPrivate± Mixed
Regulationrelevance

Anthropic's CEO Amodei is mentioned as seeking stronger safeguards, and Huang praised a former Anthropic researcher; only context, no company-specific development.

OpenAIPrivate± Mixed
Regulationrelevance

OpenAI's CEO Altman is cited as raising AI-risk concerns and calling for safeguards, which Trump rejected; only a passing mention.

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