Trump Calls AI a 'Hoax' During Surprise Call with Nvidia CEO Jensen Huang

Key Facts

1President Donald Trump called artificial intelligence a 'hoax' during a surprise onstage phone call with Nvidia CEO Jensen Huang.

In a move reflecting shifting political attitudes toward the high-tech sector, President Donald Trump has introduced significant uncertainty by labeling artificial intelligence a "hoax." These comments were made during a surprise onstage phone call with Nvidia CEO Jensen Huang. The rhetoric appears to signal a broader skepticism regarding federal regulatory power and the prevailing narrative driving the current AI expansion.

This development comes as semiconductor leaders face increased scrutiny over their market valuations. Per market data, Nvidia (NVDA) closed at $210.96 on September 14, 2026, while industry peers showed varied performance, with AMD closing at $493.41 and TSM at $418.01 on the same date. The President's characterization of the sector could impact investor confidence in mega-cap tech stocks that have relied on AI as a primary growth catalyst.

Traders should watch NVDA price action following its close at $210.96 on September 14, 2026, noting the day's low of $208.93 as a potential immediate support level. While the upcoming economic calendar lacks direct tech-sector catalysts, further clarifications from the administration regarding tech policy will be the primary focus for market participants seeking to gauge the long-term impact on AI investments.