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Trump calls AI fears a 'hoax', Treasury yields surge, Moynihan's warning and more in Morning Squawk

Here are five key things investors need to know to start the trading day.

US President Donald Trump made a surprise phone call to Nvidia CEO Jensen Huang during a live panel discussion at the All-In Summit in Los Angeles. According to the New York Times, Huang was onstage when he received the call from Trump, who dismissed fears of an AI takeover.

Trump described concerns about AI safety as a "hoax" and criticised calls for slowing AI development, saying it would play into the hands of political opponents or China. Huang agreed with Trump, saying the US President had seen through the complexities of the issue. The conversation came amid growing concerns about the risks posed by AI, with some experts and executives, including Anthropic's Dario Amodei, OpenAI's Sam Altman, and xAI's Elon Musk, calling for a slowdown in AI development.

The debate over AI safety has sparked a heated discussion in Washington, with Trump and other Republicans opposing greater government oversight, while Democrats are pressing for a more robust response. Trump has compared warnings about AI to the "Global Warming Scam" and has called himself "the Hoax Buster".

Brief written by urgent.news from Techmeme, Hindustan Times - World News, People Daily Kenya, The Korea Times, Gulf News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.

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