{"id":71775,"date":"2026-09-14T17:38:12","date_gmt":"2026-09-14T21:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-dismisses-ai-hoax-as-sacks-rejects-industry-calls-for-regulatory-cartels\/71775\/"},"modified":"2026-09-14T17:38:12","modified_gmt":"2026-09-14T21:38:12","slug":"trump-dismisses-ai-hoax-as-sacks-rejects-industry-calls-for-regulatory-cartels","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-dismisses-ai-hoax-as-sacks-rejects-industry-calls-for-regulatory-cartels\/71775\/","title":{"rendered":"Trump Dismisses AI &#8220;Hoax&#8221; as Sacks Rejects Industry Calls for Regulatory Cartels"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>President Trump labels AI extinction risks a &quot;hoax,&quot;<\/strong> comparing warnings from industry leaders to past claims about global warming and Russian interference.<\/li>\n<li><strong>AI Czar David Sacks rejects calls for antitrust waivers,<\/strong> telling labs they can &quot;pace the frontier&quot; independently but will not receive government-sanctioned &quot;cartel&quot; protections.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) CEO Jensen Huang joins Trump in a surprise call<\/strong> to dismiss &quot;doomerism,&quot; emphasizing that American leadership in AI is the primary safety guardrail.<\/li>\n<li><strong>Boeing (<a href=\"\/stock\/BA\">BA<\/a>) secures a $562 million Navy contract<\/strong> for the MQ-25A Stingray, reinforcing the administration&#39;s focus on maintaining a technological military edge.<\/li>\n<li><strong>Geopolitical tensions remain high<\/strong> as Iran\u2019s Mohsen Rezaee dismisses U.S. &quot;mixed signals&quot; on negotiations, while NATO jets scramble in Lithuania over a drone scare.<\/li>\n<\/ul>\n<h2>Trump Rejects AI &quot;Doomerism&quot; as Industry Hoax<\/h2>\n<p>President <strong>Donald Trump<\/strong> launched a scathing attack on Monday against calls to slow the development of advanced artificial intelligence, labeling fears of humanity&#39;s destruction a <strong>&quot;hoax.&quot;<\/strong> In a series of posts on <strong>Truth Social<\/strong>, the President compared warnings from AI researchers to the &quot;scam of global warming,&quot; asserting that the only &quot;guardrail&quot; the technology needs is a &quot;strong and smart president.&quot;<\/p>\n<p>The President specifically targeted <strong>Anthropic<\/strong> CEO <strong>Dario Amodei<\/strong>, who recently advocated for &quot;pacing the frontier&quot; to ensure safety work catches up with model capabilities. Trump accused &quot;radical left Democrats&quot; and certain industry leaders of pushing these fears to create a &quot;SICK conspiracy&quot; that would ultimately benefit competitors like <strong>China<\/strong>.<\/p>\n<h2>Sacks Challenges AI Labs to Act Without &quot;Cartel&quot; Protections<\/h2>\n<p>White House AI Czar <strong>David Sacks<\/strong> echoed the President\u2019s deregulatory stance, drawing a hard line against <strong>OpenAI<\/strong> and <strong>Anthropic<\/strong>. Sacks stated that while labs are free to self-impose development slowdowns if they perceive internal risks, the government will not grant <strong>antitrust concessions<\/strong> or formal approval regimes to facilitate such moves.<\/p>\n<p>Sacks characterized the industry&#39;s request for regulatory frameworks as an attempt to form a <strong>&quot;cartel&quot;<\/strong> that would stifle competition and provide legal cover. He argued that <strong>product liability<\/strong> and market pressure are sufficient to discipline the industry, noting that companies should be transparent and conduct audits without demanding government control over the pace of progress.<\/p>\n<h2>Nvidia\u2019s Huang Joins Deregulatory Push<\/h2>\n<p>In a high-profile show of alignment, <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> CEO <strong>Jensen Huang<\/strong> took a surprise phone call from President Trump while onstage at the <strong>All-In Summit<\/strong> in Los Angeles. During the five-minute conversation, both men dismissed &quot;AI doomerism,&quot; with Huang stating that &quot;America is able to lead and to do it safely.&quot;<\/p>\n<p>The collaboration highlights a growing rift in Silicon Valley. While <strong>OpenAI<\/strong>\u2019s <strong>Sam Altman<\/strong> and <strong>Elon Musk<\/strong> have signaled support for some level of pacing, <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> and the Trump administration are prioritizing rapid deployment to maintain the U.S. lead over international rivals.<\/p>\n<h2>Defense and Geopolitical Developments<\/h2>\n<p>On the defense front, the <strong>U.S. Navy<\/strong> awarded <strong>Boeing (<a href=\"\/stock\/BA\">BA<\/a>)<\/strong> a <strong>$562 million contract<\/strong> for the <strong>MQ-25A Stingray<\/strong>, an unmanned carrier-based refueler. This move aligns with the administration&#39;s broader strategy of integrating autonomous systems into the military to counter rising threats.<\/p>\n<p>Internationally, stability remains elusive. <strong>Iran&#39;s<\/strong> top security official, <strong>Mohsen Rezaee<\/strong>, stated that Tehran will not enter negotiations until its conditions are fully met, accusing the U.S. of sending &quot;mixed signals.&quot; Meanwhile, <strong>NATO<\/strong> military jets were scrambled in <strong>Lithuania<\/strong> following a suspected drone sighting near <strong>Vilnius<\/strong>, which was later identified as a flock of birds, underscoring the heightened state of alert on the alliance&#39;s eastern frontier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump labels AI extinction risks a &quot;hoax,&quot; comparing warnings from industry leaders to past claims about global 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