{"id":671610,"date":"2026-09-20T17:30:00","date_gmt":"2026-09-20T17:30:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=671610"},"modified":"2026-09-20T17:30:00","modified_gmt":"2026-09-20T17:30:00","slug":"keep-digging-says-shovel-salesman-jensen-huang","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=671610","title":{"rendered":"‘Keep Digging’… Says Shovel-Salesman Jensen Huang"},"content":{"rendered":"

‘Keep Digging’… Says Shovel-Salesman Jensen Huang<\/span><\/p>\n

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Submitted by QTR’s Fringe Finance<\/a><\/em><\/p>\n

Maybe it\u2019s the bullshit detection genes that were passed down to me from my mother, but I simply can\u2019t wind up trusting a word Nvidia CEO Jensen Huang says about how much AI regulation the United States needs.<\/p>\n

Just call it a gut reaction from me. It doesn\u2019t mean Huang is necessarily wrong about AI. It\u2019s just that I look at him and all I can see is one of the most financially conflicted people on planet Earth to ask about AI regulation.<\/p>\n

According to\u00a0CNBC<\/a>, Huang has increasingly gained President Trump\u2019s ear on AI policy, appearing alongside him repeatedly and pushing a relatively simple message as concerns about AI safety mount: keep moving, keep building and don\u2019t let regulation get in the way.<\/p>\n

What an astonishing coincidence that this also happens to be fantastic policy for Nvidia, which sits at the nerve center of a multi trillion dollar AI infrastructure boom\u2026which\u00a0itself<\/em>\u00a0sits at the nerve center of an even larger global economic ponzi scheme (hereinafter referred to as:\u00a0the global economy)<\/em>.<\/p>\n

Nvidia\u2019s chips are effectively the picks and shovels of the entire operation. Every hyperscaler racing to build another data center, every AI lab trying to train a larger model and every corporation terrified of being left behind has helped create extraordinary demand for Nvidia\u2019s hardware. In return, Nvidia has \u201cinvested\u201d in a countless number of other operations that rely on its hardware. One big happy circle jerk family.<\/p>\n

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And one of the most spectacular corporate ascents in history for Nvidia. It has become one of the central pillars of the AI trade, which itself has become enormously important to the U.S. stock market. Nvidia and the other mega cap technology companies tied to the AI boom carry enormous weight in major indexes owned by investors around the world.<\/p>\n

There is a\u00a0staggering<\/em>\u00a0amount of money riding on the proposition that the AI spending boom continues. And sitting directly in the middle of it is Jensen Huang. It\u2019s been the reason for my (somewhat) tongue-in-cheek opinion that Nvidia will\u00a0never\u00a0<\/em>miss an earnings report again, because the powers that be would rather see them commit egregious accounting fraud than tell the truth about shitty numbers and watch the global economy collapse.<\/p>\n

And now Huang is apparently becoming one of the president\u2019s most influential voices on precisely the question that could determine how quickly this machine is allowed to keep running. You almost have to admire the efficiency.<\/p>\n

CNBC\u00a0reports<\/a>\u00a0that Trump has increasingly echoed Huang\u2019s views on AI safety, while Huang has publicly dismissed some of the more apocalyptic warnings surrounding artificial intelligence. His preferred solution to many safety concerns is essentially \u201cgood old fashioned engineering.\u201d<\/p>\n

Maybe he\u2019s right. But forgive me if I\u2019m not eager to treat the CEO of Nvidia like an objective third party monk who has been summoned down from a Nepalese ashram to offer Washington philosophical wisdom about the future of humankind. The guy is a CEO of the company selling the hardware required to run the experiment.<\/p>\n

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Nvidia makes extraordinary amounts of money when OpenAI, Meta, Google, Microsoft, Amazon and everyone else decides they need more compute. It makes money when data centers get larger. It makes money when models get larger. It makes money when the AI arms race accelerates. Somehow, I assume, it even makes money when I use my toaster to make an english muffin in the morning.<\/p>\n

Presumably, Nvidia would face a less favorable commercial environment if policymakers imposed rules that materially slowed that race. Or altered my breakfast plans.<\/p>\n

That doesn\u2019t mean Huang is lying. It doesn\u2019t mean his policy arguments are necessarily wrong. And it certainly doesn\u2019t establish some secret conspiracy between Nvidia and the White House. But it does mean the conflict of interest is so enormous you can practically see it from space.<\/p>\n

This is why I find Huang\u2019s growing proximity to Trump far more interesting than another photograph of two powerful men smiling at dinner.<\/p>\n

CNBC reports that Huang is expected to attend the president\u2019s state dinner for Chinese President Xi Jinping. The administration, meanwhile, has emphasized accelerating American AI development and resisting restrictions it believes could weaken the United States relative to China. Those positions can align extremely well with Nvidia\u2019s commercial interests.\u2019<\/p>\n

Maybe that alignment produces good policy. But investors should understand who is sitting at the table and what they have riding on the outcome.<\/p>\n

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\ud83d\udd25 85% OFF FOREVER IF YOU SUBSCRIBE TODAY:\u00a0<\/strong>I am again offering an 85% discount to anyone that wants to become a\u00a0Fringe Finance<\/em>\u00a0annual subscriber today. It\u2019s a discount you can keep and stays applied for as long as you wish to remain a subscriber:\u00a0Get 85% off forever<\/a><\/p>\n

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If Exxon\u2019s CEO became one of Washington\u2019s most influential voices on whether America should restrict oil drilling, I wouldn\u2019t simply write down his opinion and call the matter settled.<\/p>\n

If JPMorgan\u2019s CEO were advising the president about whether banks needed additional capital requirements, I\u2019d probably keep JPMorgan\u2019s balance sheet somewhere in the back of my mind.<\/p>\n

And when big pharma figured out a way to \u201cfind\u201d clinical studies questioning ivermectin\u2019s\u00a0safety\u00a0<\/em>record in the middle of a pandemic where they were trying to sell vaccines, despite ivermectin being on the WHO\u2019s Model List of Essential Medicines and having been used successfully in 3.7 billion doses for the last 39 years,\u00a0I didn\u2019t trust that either<\/a>. The timing was just too\u2026perfect.<\/p>\n

So when the CEO of the company arguably benefiting more than anyone else from the AI capital spending explosion tells the president that fears surrounding AI are overblown and additional regulation could be counterproductive, I\u2019m going to apply precisely the same standard.<\/p>\n

Huang\u2019s job is not to protect my portfolio, the stock market or civilization. His job is to run Nvidia, and he has been extraordinarily good at it. That is exactly why I don\u2019t understand the impulse to treat his pronouncements about AI policy as though they arrived on stone tablets.<\/p>\n

The stakes here are much larger than Nvidia.<\/p>\n

AI enthusiasm has become deeply embedded in the market\u2019s valuation structure. Trillions of dollars of market capitalization are tied directly or indirectly to assumptions about continued AI investment, continued infrastructure spending and eventual returns on an almost unimaginable amount of capital being poured into the sector.<\/p>\n

Anything that threatens that narrative, including disappointing returns, slower model development, power constraints, tougher regulation, customers deciding they have bought enough GPUs for a while and\/or me discontinuing use of my toaster in the morning, potentially threatens much more than one semiconductor stock.<\/p>\n

AI will also\u00a0play a massive role in the upcoming midterm elections<\/a>. There is also a very real case that if we pass a certain point waiting to regulate AI,\u00a0we may not have a chance to in the future<\/a>. And there\u2019s also arguments that\u00a0AI CEOs are calling for regulation to stifle competition<\/a>. Whatever the case, we have to go about regulation ideas in a more objective fashion.<\/p>\n

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Jensen Huang may ultimately be correct that engineers can manage these risks without heavy government intervention. He may be correct that excessive regulation would damage American competitiveness. Those arguments deserve to be evaluated on their merits.<\/p>\n

But they should also be evaluated alongside the economic incentives of the person making them. There is something almost comical about watching the man standing closest to the cash register explain why everybody needs to keep shopping. You don\u2019t need a conspiracy theory to be skeptical in this situation.<\/p>\n

Follow me one more time. Huang runs a company whose fortunes are intimately connected to the continuation of the AI boom. The Trump administration has publicly emphasized American AI dominance, economic growth and strong financial markets. Where those interests overlap, Nvidia has every reason to make its case as aggressively as possible.<\/p>\n

And Huang could be doing exactly that. Good for him. But I\u2019m not confusing excellent corporate strategy or political relationship building with an independent assessment of whether AI poses serious risks or requires additional oversight.<\/p>\n

When the CEO of the company selling the picks and shovels tells Washington that the gold rush shouldn\u2019t be slowed down, I don\u2019t hear the voice of an impartial referee\u2026I hear the guy selling the shovels telling everyone to keep digging.<\/p>\n

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—<\/p>\n<\/figure>\n

QTR\u2019s Disclaimer<\/strong><\/em>:<\/strong>\u00a0Please read my full legal disclaimer\u00a0on my About page here<\/a><\/em>.\u00a0<\/p>\n<\/figure>\n<\/figure>\n

\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 09\/20\/2026 – 13:30<\/span><\/p>","protected":false},"excerpt":{"rendered":"

‘Keep Digging’… Says Shovel-Salesman Jensen Huang Submitted by QTR’s Fringe Finance Maybe it\u2019s the bullshit detection genes that were passed down to me from my mother, but I simply can\u2019t wind up trusting a word Nvidia CEO Jensen Huang says about how much AI regulation the United States needs. Just call it a gut reaction… Continue reading ‘Keep Digging’… Says Shovel-Salesman Jensen Huang<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[17,22,13],"tags":[],"class_list":["post-671610","post","type-post","status-publish","format-standard","hentry","category-border-security","category-immigration","category-immigration-reform","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/671610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=671610"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/671610\/revisions"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=671610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=671610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=671610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}