Nvidia CEO Jensen Huang is among those pushing back against the need to slow down artificial-intelligence development. And he has President Donald Trump on his side.

The alliance between the two was illustrated Monday when Trump called Huang during the middle of a summit appearance by the Nvidia chief. The president reiterated his view that calls for limits on AI development were a “hoax,” to cautious agreement from Huang.

“We’re going to make sure that everybody wins in the AI race in America. Every industry, every company, every state,” Huang responded to Trump during the call, which took place on stage at the All-In Summit in Los Angeles, Calif.

It’s no surprise Huang isn’t keen on a potential slowdown in AI development, as mooted by the heads of major AI companies Anthropic and OpenAI over the weekend. That could reduce demand for Nvidia chips from two major customers and the benefit it expects from their initial public offerings.

Nvidia shares were up 0.5% in premarket trading Tuesday after falling 3.4% the previous day.

Huang pushed back against forecasts such as that made by Anthropic safety researcher Evan Hubinger who put the extinction risk to humans over the next decade at more than 10% due to AI, calling such numbers “made up” and “irresponsible.”

“Those predictions are inconsistent with ultimately America winning the AI race,” Huang said in an onstage conversation at the summit. However, he said he would support independent evaluators of the safety of new AI models.

Of course, Anthropic and OpenAI could still take it on themselves to reduce the pace of AI development, which would be bad news for Nvidia. But as Barron’s has previously written, Nvidia has been fueling the open-source AI movement to provide itself with a wider base of customers. Plus, there’s no evidence yet of a pause in data-center construction.

“Semis [semiconductor] stocks can’t afford any slowdown in…infrastructure deployment so this is clearly a big new risk factor. At the same time though, major frontier labs have very recently moved forward with large new AI infrastructure commitments,” wrote UBS analyst Timothy Arcuri in a research note.

So far, Huang and Trump look to be winning the debate.