President Donald Trump acknowledged Wednesday that he briefly considered using antitrust power to split up Nvidia Corp. (NASDAQ:NVDA) before aides warned the move would be “very hard."
What Happened: "I said, ‘Look, we'll break this guy up,' before I learned the facts here," Trump told an AI summit crowd near the Capitol, according to a Bloomberg report. He added that he had "figured we could go in and sort of break them up a little bit, get them a little competition, and I found out it's not easy in that business."
“I said, ‘suppose that we put the greatest minds together and they work hand-in-hand for a couple of years.' He said, ‘no, it would take at least ten years to catch him if he ran Nvidia totally incompetently from now on.' So I said, ‘all right, let's go on to the next one,'" Trump added. "And then I got to know Jensen, and now I see why.”
It is worth noting that the DOJ under the Biden administration had launched an antitrust probe into Nvidia Corp. in 2024.
Trump then turned conciliatory, singling out chief executive Jensen Huang, seated in the audience, with a thumbs‑up, "What a job you've done."
Why It Matters: The two met at the White House this month shortly before the administration cleared Nvidia to resume selling its H20 AI chips to China under a new trade truce.
The remarks came as Trump rolled out an AI Action Plan, a package of executive orders and legislative proposals aimed at loosening regulations, expanding exports and accelerating data‑center construction to win the AI race against Beijing.
The blueprint reverses several Biden‑era chip‑export curbs and follows a May proposal to scrap tiered licensing rules for advanced semiconductors.
Price Action: NVDA stock is trading higher by 2.25% to $170.78 at market close on Wednesday. The stock was up 1.24% in after-market hours.
Benzinga Edge Stock Rankings indicate that Nvidia demonstrates a strong profile for growth and momentum, but scores very poorly on value. The company boasts an exceptional Growth score of 98.70 and a strong Momentum score of 85.67. Check here to find out how the stock fares against its peers.
Photo by gguy via Shutterstock
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