President Trump once thought about breaking up Nvidia, having a lack of knowledge about the company's significance and its CEO, Jensen Huang. During an AI summit, Trump recounted conversations that led him to believe competition could be increased in the market. After learning more about Nvidia and Huang, Trump acknowledged the complexity of the AI business. Huang previously facilitated a favorable outcome for Nvidia when the Trump administration lifted restrictions on the company's exports of H20 AI chips to China, aiding Nvidia's growth in that market.
"I said, 'Look, we'll break this guy up,' before I learned the facts of life," Trump stated regarding his initial thoughts on Nvidia and its CEO, Jensen Huang.
"I said, who the hell is he? What's his name...What the hell is Nvidia? I've never heard of it before," the president recalled, expressing his unfamiliarity with the company.
"I figured we could go in and we could sort of break them up a little bit, get them a little competition, and I found out it's not easy in that business," he mentioned, reflecting on the challenges of the AI industry.
After learning about Huang, Trump acknowledged, "Then I got to know Jensen and now I see why," recognizing Huang's influence and the company's market status.
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