Key Points
- During a live presentation at the All-In Summit in Los Angeles, President Trump unexpectedly called Nvidia CEO Jensen Huang on speakerphone to reject AI safety concerns as overblown
- The president declared that machines will not dominate humanity and likened data center infrastructure to “the oil of the next 20, 25 years”
- The conversation occurred days after Anthropic’s CEO Dario Amodei published a piece advocating for slower AI advancement, receiving support from Sam Altman and Elon Musk
- A widening divide is emerging in Silicon Valley between advocates for minimal regulation and experts cautioning about genuine cybersecurity and biological threats
- Despite the semiconductor sector selloff, Mizuho analysts view the downturn in companies like Micron and Broadcom as an attractive entry point for investors
In an unexpected moment at Monday’s All-In Summit in Los Angeles, President Donald Trump placed a speakerphone call to Nvidia CEO Jensen Huang while Huang was delivering remarks on stage.
An attendee captured the approximately five-minute conversation on video, which quickly circulated across social platforms. Everyone present at the conference heard the unfiltered discussion as it unfolded.
During the exchange, Trump rejected widespread anxiety about artificial intelligence risks. “The robots are not going to be taking over the world. That’s not going to happen,” the president stated.
He characterized data center facilities as “the oil of the next 20, 25 years” and assured Huang, “I’m with you all the way.”
The president also connected resistance to AI advancement with international competition. He claimed skeptics were “playing right into the hands” of China and implied that some opposition carried political motivations.
Huang expressed alignment with Trump’s perspective. He maintained that America can advance AI technology while maintaining security standards, and challenged the scientific foundation of certain safety concerns circulating throughout the sector.
Context: Silicon Valley’s Deepening Divide
This phone exchange occurred mere days following an essay from Anthropic CEO Dario Amodei advocating for reduced speed in AI development. Amodei cautioned that recursive self-improvement capabilities and a recent AI agent event had elevated dangers beyond acceptable thresholds.
Over the weekend, both OpenAI CEO Sam Altman and Elon Musk expressed support for Amodei’s position to decelerate progress.
Their stance directly opposes that of Trump, Huang, and Meta’s Mark Zuckerberg, who contend that safety anxieties are exaggerated and that excessive regulation would strengthen China’s competitive position.
Following the summit appearance, Trump took to Truth Social, branding himself the AI “Hoax Buster.” He characterized resistance to AI advancement and data center construction as “a SICK conspiracy” and specifically criticized Amodei.
Chip Stocks Decline Sharply, Yet Experts Identify Value
The ongoing controversy created market turbulence. The PHLX Semiconductor Index declined approximately 6%, dragging down numerous chip-sector equities.
Micron, Broadcom, Lam Research, and Dell were among the companies experiencing significant daily losses.
Mizuho analysts challenged the market reaction. The firm contends the decline in AI-related semiconductor stocks appears excessive and represents a strategic buying moment.
Mizuho further noted that proposals to decelerate cutting-edge AI development won’t meaningfully impact capital expenditure on AI infrastructure. The analysts also maintained that unilateral regulation without international coordination could benefit Chinese competitors.
All-In Summit co-host Chamath Palihapitiya captured the atmosphere on X with a simple observation: “This was surreal.”
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