Trump Labels AI a “Hoax” During Unannounced Onstage Call With Nvidia CEO Jensen Huang

President Donald Trump described artificial intelligence as a “hoax” during a surprise onstage phone call with Nvidia chief executive Jensen Huang, according to a report from Seeking Alpha. The remarks came as an unexpected moment in an appearance that paired the president with the leader of the company at the center of the global AI infrastructure buildout.

The exchange drew attention given Huang’s role at the helm of NVIDIA, whose chips power much of the data center capacity underpinning the current wave of AI development. Comments from political leaders questioning the technology’s value land with particular weight when made alongside one of its most prominent industry figures, and the juxtaposition quickly became the focal point of coverage of the event.

Investors appeared to take the development in stride. NVIDIA shares traded at $223.67, down 0.73% from the previous close of $225.31, putting the company’s market capitalization at roughly $5.56 trillion. The modest move suggests the market treated the president’s remark as rhetorical rather than a signal of any shift in policy toward the semiconductor or AI sectors.

For context, NVIDIA has become one of the most valuable companies in the world on the strength of demand for its accelerators, with operations spanning the United States, Taiwan, China, Hong Kong, and Europe through its Compute & Networking and Graphics segments. Any sustained change in how Washington frames AI policy — including export controls, subsidies, or federal adoption of AI systems — would carry implications for the company and the broader semiconductor industry, though the president offered no policy specifics in the onstage call.

NVIDIA did not immediately respond with a public statement on the remarks, and the White House has not indicated whether the comment reflects a change in the administration’s posture on AI investment or regulation.

What to watch

• Whether the White House clarifies or walks back the president’s characterization of AI, and whether any policy follow-through accompanies it.
• NVIDIA’s next quarterly earnings report and guidance, which will indicate whether data center AI demand remains intact.
• Any new statements from Jensen Huang or Nvidia on federal AI policy, export controls, or government partnerships.
• Trading in NVDA shares in the sessions following the event for signs of a broader reaction.

Source: original release