TLDR
- President Trump called Nvidia CEO Jensen Huang live on speakerphone at the All-In Summit in Los Angeles, dismissing AI safety fears as a “hoax”
- Trump said robots will not take over the world and compared data centers to “the oil of the next 20, 25 years”
- The call follows an essay by Anthropic CEO Dario Amodei urging AI companies to slow development, with Sam Altman and Elon Musk agreeing
- A split is growing in tech between those who want fewer rules and those warning of real cyber and biosecurity risks
- Mizuho sees the semiconductor selloff as a buying opportunity, noting the pullback in names like Micron and Broadcom looks overdone
President Donald Trump called Nvidia CEO Jensen Huang live on speakerphone while Huang was speaking onstage at the All-In Summit in Los Angeles on Monday.
PRESIDENT TRUMP CALLED JENSEN HUANG DURING THE ALL IN SUMMIT TO CALLED EVERYTHING A HOAX…
What the hell is going on.
WOW. pic.twitter.com/DwA8j8y7L6
— Just a Dude Who Invests (@DudeWhoInvests) September 14, 2026
The roughly five-minute call was recorded by an attendee and spread widely on social media. The crowd at the summit heard the entire exchange in real time.
Trump used the call to dismiss concerns about artificial intelligence safety. “The robots are not going to be taking over the world. That’s not going to happen,” he said.
He described data centers as “the oil of the next 20, 25 years” and told Huang directly, “I’m with you all the way.”
Trump also tied opposition to AI development to foreign rivals. He said critics were “playing right into the hands” of China and suggested some of the pushback was politically driven.
Huang agreed with the president. He said the U.S. can lead in AI while still staying safe, and questioned the scientific basis behind some of the safety warnings being made in the industry.
The Backdrop: A Growing Split in Tech
The call came just days after Anthropic CEO Dario Amodei published an essay urging AI companies to slow the pace of development. Amodei warned that recursive self-improvement and a recent AI agent incident had made the risks too serious to ignore.
OpenAI CEO Sam Altman and Elon Musk both signaled agreement with Amodei’s call to slow down over the weekend.
This put them on the opposite side of Trump, Huang, and Meta’s Mark Zuckerberg, who say safety fears are overblown and that heavy rules would give China a competitive edge.
After the summit, Trump posted on Truth Social calling himself the AI “Hoax Buster.” He described opposition to AI and data centers as “a SICK conspiracy” and attacked Amodei by name.
Semiconductor Stocks Drop, But Analysts See a Buying Opportunity
The debate rattled markets. The PHLX Semiconductor Index fell around 6%, pulling down a wide range of chip-related stocks.
Micron, Broadcom, Lam Research, and Dell were among those that dropped sharply on the day.
Mizuho pushed back on the selloff. The firm said the drop in AI-linked semiconductor names looks overdone and called it a buying opportunity.
Mizuho added that calls to slow frontier AI development will not change spending on AI data centers in any real way. The firm also argued that regulation without global alignment could hand an advantage to Chinese rivals.
All-In Summit co-host Chamath Palihapitiya summed up the moment on X with one line: “This was surreal.”
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