Trump Calls AI Fears a Hoax as China Pushes Back on Slowdown Calls

GeopoliticsRegulationIndustry Impact 4
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President Trump dismissed artificial intelligence dangers as a "hoax" during a live phone call into an All-In podcast event with Nvidia CEO Jensen Huang, telling the panel that such fears play into the hands of political opponents and China. A Chinese Foreign Ministry spokesperson pushed back against calls from US tech leaders to slow frontier AI development, saying fearmongering, confrontation and vicious competition will only disrupt global AI governance and serve no one's interest. China also released a five-year plan for the electronics industry targeting 30 trillion yuan in electronics revenue in 2030, according to Xinhua, advancing chips, computing and consumer electronics against its longer-term AI strategy. Bloomberg Artificial Intelligence and Venture Capital editor Samantha Altman said the moment is notable because AI lab leaders and a growing cohort of bipartisan US politicians are calling for pacing the technology while Trump pushes back hard, especially ahead of US midterm elections. China Economy and government reporter Callum Murphy said the pushback complicates the coming Xi-Trump summit in less than two weeks, where AI was expected to be an important component, though expectations for specifics remain low while the signaling impact could be significant.

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NVIDIA Corporation
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Trump dismissed AI fears as a hoax during a call with Nvidia CEO Huang, while China pushed back on slowing AI development and released a five-year electronics plan, leaving the net impact on Nvidia unclear.

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