Nvidia (NVDA) Slips 3% After Trump Phones Jensen Huang Live to Call AI Fears a Hoax

Trump's On-Stage Call to Huang

Nvidia (NVDA) shares slid about 3% on Monday even after President Donald Trump phoned the company's chief executive, Jensen Huang, live on stage to declare that fear of artificial intelligence is a hoax. The call interrupted Huang midway through an interview at the All-In Summit, a technology conference organized by a group of Silicon Valley investors, and landed only hours after chip stocks had opened sharply lower. Huang placed the president on speaker, and the room of investors heard the argument Trump has been pressing for weeks. Audio posted by attendees on captured the exchange: Trump called the scare narrative “a hoax,” said data centers make people and states wealthy, argued AI is bigger than the internet, and warned that critics were “playing right into the hands of China” — a development the United States, in his framing, cannot allow. Huang, before a live audience, told the president he was right and that the industry would not let it happen. The China line cuts both ways: only recently, Nvidia's homegrown Chinese rival Enflame soared 234% in its Shanghai debut, evidence that the competitive push Trump invoked is already running on its own. Earlier that same morning, Trump had dismissed safety warnings on social media, insisting that a capable president is the only guardrail the technology needs, and he has separately claimed sweeping authority over AI companies. Our desk watched the tape through the exchange: the stock did not bounce on the president's endorsement, and it did not deepen its losses on the rhetoric either. The summit setting mattered, too — an investor audience, not a rally crowd, heard the administration's AI thesis delivered unprompted and unscripted. The stagecraft moved sentiment, not positioning, and positioning is what Monday's session was really about.

captured the exchangehttps://x.com/MikeIsaac/status/2099570378142351387

Chip Complex Slides Up to 7%

Behind the stagecraft sat a market already repricing the weekend's messaging. Nvidia (NVDA) traded near $211.81 by Monday afternoon, roughly 3% under Friday's close of $218.29 — a dent in a run that had carried the stock within reach of its all-time high earlier in the year. The damage was broader: Intel dropped 7%, Advanced Micro Devices lost 6%, and the iShares Semiconductor ETF, the sector-tracking fund, slid 6%. Sellers worked every order type, from resting limit orders to outright market sells, as the complex unwound within minutes of Monday's open. Investors were also digesting a weekend essay from Anthropic chief executive Dario Amodei urging developers to pace the next leap in model capability. Sam Altman and Elon Musk joined the rivals backing the slowdown chorus — an awkward backdrop given that Nvidia has been reported in talks to commit up to $10 billion toward the Anthropic IPO. Not everyone reads the drop as real weakness. Investor Michael Burry argues the slowdown push is hype tied to upcoming listings, and Intel's outsized fall — despite holding the least AI exposure of the group — points to crowded trades unwinding rather than shrinking demand, the kind of positioning retail often chases through copy-trading platforms. Huang, for his part, has previously dismissed the AI scare as manufactured demand, and nothing in the company's commercial pipeline changed over the weekend. What changed is the price the market will pay for the narrative Trump is now selling — and by Monday afternoon that discount stood at roughly $6.48 per share against Friday's close. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

Crypto Risk Appetite Holds

COINOTAG's read: the tug-of-war between Washington's AI narrative and market positioning is now the sector's swing factor. Crypto risk appetite, for now, stays risk-on — our Fear & Greed Index reads 57 (Greed), Bitcoin holds 68.1% of COINOTAG's tracked universe, and total tracked market cap sits near $2.32 trillion.