Trump To Meet Nvidia CEO Jensen Huang On Wednesday, Expresses Optimism About State Of AI Technology

• The U.S. President also stated that, with the support of Japanese companies such as SoftBank, the United States is pursuing an AI policy to keep it ahead of the curve.
• SoftBank is one of the members of the Stargate Project, which is a joint venture that also includes OpenAI, Oracle, and investment firm MGX.

President Donald Trump on Tuesday indicated he will meet Nvidia Corp. (NVDA) CEO Jensen Huang on Wednesday, while praising him at a reception with business leaders in Japan.

“I want to congratulate Jensen, he’s been really amazing. He’s an amazing guy, brilliant guy. I’m seeing him tomorrow,” said President Trump. He also recalled that Nvidia and Taiwan Semiconductor Manufacturing Co. (TSM) produced the first Blackwell chip in the U.S. earlier this month.

State Of AI

President Trump expressed optimism about the state of artificial intelligence (AI) technology and said what he saw ahead of the reception on Tuesday was “fantastic.” The U.S. President also stated that, with the support of Japanese companies such as SoftBank Group Corp. (SFTBY), the U.S. is pursuing an AI policy to keep it ahead of the curve.

SoftBank is one of the members of the Stargate Project, which is a joint venture that also includes OpenAI, Oracle Corp. (ORCL), and investment firm MGX. Announced by the Trump administration in January, the joint venture plans to invest up to  $500 billion in building out AI infrastructure in the U.S. by 2029.

Nvidia shares were up nearly 0.6% in Tuesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory at the time of writing.

Catering To AI’s Power Needs

President Trump also touched upon the “massive” amount of power that the AI technology needs, adding that he told tech companies to build their own power plants to address these requirements.

“You have to double or triple the current amount of electricity in the United States,” he said, adding that the electricity grid in the country is old. To help tech companies, President Trump said his administration is giving fast approvals in a matter of weeks.

NVDA stock is up 43% year-to-date and 35% in the past 12 months.

Also See: Trump Says Jerome 'Too Late' Powell Will Be Out In A Few Months, Calls For Candidate Suggestions To Replace Him

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