Trump Calls Jensen Huang Amid AI Concerns, Nvidia Shares Dip

President Donald Trump called Nvidia CEO Jensen Huang on Monday during a public appearance. He reassured investors that fears about artificial intelligence (AI) were unfounded. However, Nvidia shares declined following the call.

The call occurred during the All-In Summit, a tech conference hosted by Silicon Valley investors. It took place hours after semiconductor stocks plummeted at market open.

During Huang's on-stage interview, the call came through and was connected to speakers. The audience heard Trump directly address points he has made for weeks.

Trump also dismissed safety concerns about AI earlier that morning on social media, stating only capable leaders could ensure technology safety. He claimed individual AI companies should have significant authority over their own policies.

Nvidia shares fell from $211.81 late Monday afternoon, down about 3% from Friday's close of $218.29. Intel dropped 7%, while AMD slid 6%. The iShares Semiconductor ETF also fell 6%.

Sell pressure began before the call as investors anticipated a weekend essay by Anthropic CEO Dario Amodei urging developers to slow AI model advancements. Sam Altman and Elon Musk have also supported slowing AI development.

Bitcointist noted that Monday's market open would test this consensus, with semiconductor stocks reacting within minutes.

Not all view the drop as a bearish signal. Investor Michael Burry said the slowdown is merely due to heightened attention following public listings. Intel, despite having low AI exposure, fell most sharply—a sign of crowded trade unwinding rather than reduced demand.

Nvidia's order book remains unchanged. The only change is the gap between Trump's comments and market sentiment.