Trump Calls Nvidia CEO; Shares Fall Despite AI Reassurance

During a live appearance at the All-In Summit on Monday, President Donald Trump called Nvidia CEO Jensen Huang. He declared to the audience that anxiety over artificial intelligence is a fabrication. Still, Nvidia's stock declined.

The phone conversation took place at the All-In Summit, a tech gathering organized by Silicon Valley investors. It occurred several hours after semiconductor shares experienced a steep drop at the opening bell.

Trump Turns a Phone Call Into AI Policy

Jensen Huang was in the middle of a stage interview when his phone rang. He placed the president on speaker, allowing those present to hear the argument Trump has been making for several weeks.

“I’m telling you it’s all a hoax. The data centers are great. They make people wealthy. They make states wealthy. AI is bigger than the internet. These people are playing right into the hands of China. We’re not going to let that happen,” Donald Trump, President of the United States, speaking at the All-In Summit, via attendees.

President Trump calls NVIDIA CEO Jensen Huang live on stage at the All-In Summit.

“The robots will not be taking over. The AI will not be taking over the rest of the world. The whole thing is a hoax.”

Wall St Engine (@wallstengine) September 14, 2026

“You’re right, we’re not going to let that happen sir,” Huang answered.

Earlier that day, Trump had already rejected safety concerns on social platforms. He contended that a competent president is the only necessary safeguard for the technology. He has independently asserted broad authority over AI firms.

Why Nvidia Shares Fell Anyway

The decline began well before the phone conversation. By Monday afternoon, Nvidia was trading around $211.81, about 3% lower than its Friday closing price of $218.29.

Intel fell 7% and Advanced Micro Devices declined 6%. The iShares Semiconductor ETF, a fund that tracks the industry, dropped 6%.

Market participants were factoring in a weekend article by Anthropic CEO Dario Amodei. He called on developers to moderate the next advance in model power. Sam Altman and Elon Musk were among competitors supporting a deceleration.

BeInCrypto noted on Saturday that the Monday market opening would put that agreement to the test. Semiconductor shares responded within minutes.

Not all observers interpret the decline as genuine weakness. Investor Michael Burry argues that the deceleration push is hype connected to upcoming initial public offerings. Intel also suffered the steepest fall even though it has the least AI exposure. That trend indicates that crowded positions are being liquidated rather than demand contracting.

Nvidia's backlog remains unchanged. What has shifted is the gap between presidential statements and market pricing.