Trump Calls Nvidia's CEO to Dismiss AI Slowdown Concerns; Shares Still Fall
On September 14, 2026, U.S. President Donald Trump called Nvidia CEO Jensen Huang during a live interview at the All-In Summit in an effort to counter concerns about slowing artificial intelligence (AI) development. Despite Trump's assertion that fears of AI are exaggerated and his support for data centers as economic assets, Nvidia shares fell by nearly 3% on Monday afternoon. The broader chip sector also declined sharply, with Intel down over 7%, AMD losing around 6%, and the iShares Semiconductor ETF dropping about 6%. This decline followed a weekend essay from Anthropic CEO Dario Amodei urging caution in AI development, which was supported by figures like Sam Altman and Elon Musk. While some analysts suggest that the sell-off reflects unwinding of crowded trades rather than fundamental weakness, Nvidia's order book remains stable. Trump has repeatedly dismissed safety concerns around AI on social media, claiming a strong president is sufficient as a regulatory guardrail for the technology. Huang appeared to agree with Trump’s stance during their live call but did not provide additional commentary that would have reassured investors. The market reaction highlights growing skepticism about AI's trajectory and potential policy shifts under new leadership, despite executive-level support from key industry figures.
Topics: AI investor sentiment NVIDIA (NVDA) semiconductors Trump administration