President Donald Trump called Nvidia (NVDA) CEO Jensen Huang live on speakerphone at the All-In Summit in Los Angeles on Monday to dismiss growing concerns about AI regulation proposals. The call happened while Huang was speaking at the summit, and he held his phone to the microphone so the crowd could hear the full exchange.

During the five-minute call, Trump dismissed fears of an existential AI takeover as a "hoax." and said robots are not going to take over the world. He argued that slowing U.S. tech development or adding heavy rules on data centers would only help foreign rivals like China.

While Trump noted the U.S. must proceed "prudently," he emphasized that "that doesn't mean we're going to stop an industry." Huang agreed with the president, saying the U.S. can lead in AI while staying safe.

Widening Split Emerging in Tech Sector

The phone call points to a widening split in the tech world. Some leaders, including President Trump, Nvidia's Huang, and Meta's (META) Mark Zuckerberg, say that AI safety fears are overblown and that heavy rules would slow U.S. innovation while giving China an edge.

Others, like Anthropic CEO Dario Amodei and OpenAI's Sam Altman, warn that fast‑moving AI systems could pose real cyber and biosecurity risks unless the industry agrees on guardrails and a slower path.

After the event, Trump repeated his stance on social media, calling himself the AI "Hoax Buster" and framing safety warnings as political fear‑driven messaging.

Mizuho Sees the Selloff as a Buying Opportunity

Mizuho said the sharp drop in AI‑linked semis is a buying chance, noting that names like Micron (MU), Lumentum (LITE), Credo (CRDO), SanDisk (SNDK), Broadcom (AVGO), Dell (DELL), and Lam Research (LRCX) still look well-placed.

The firm said calls from Anthropic and OpenAI to slow frontier‑model work have stirred safety worries, but they do not see a real shift in AI data center spend.

Mizuho also argued that guardrail pushes and RSI limits will not work without global alignment and could even hand an advantage to faster Chinese rivals. With the PHLX Semiconductor Index (SOX) down about 6%, the firm sees the pullback as overdone and expects AI adoption to stay positive for core semi players.

Which AI Stock Is a Better Buy?

According to TipRanks' Stock Comparison Tool, AI stocks such as Micron, Nvidia, Amazon (AMZN), Alphabet (GOOGL), Meta, and Microsoft (MSFT) have Strong Buy consensus ratings. Among these stocks, analysts see the most upside in Micron at 69.25%, followed by NVDA at 53.72% and Amazon at 31.84%. GOOGL stock offers 21.89% upside.