During a speech to mark the unveiling of his new AI Action Plan, Donald Trump revealed that he suggested simply breaking up Nvidia, despite appearing to have never heard of the company or its CEO, Jensen Huang.
Trump made the remarks on stage at an AI summit in Washington, D.C., as he unveiled the United States’ new AI Action Plan.
The President made reference and gave thanks to some of AI’s top industry leaders, “And a very special thanks to some of the top industry leaders here, including somebody that’s amazing,” he said, alluding to Huang.
Fucking wild that he’s bandying about threats to nuke a company that comprises ~30% of the US GDP, and doesn’t even know what it is or what they make or why it comprises 30% of the US GDP
Also fucking wild that one company comprises ~30% of the US GDP
monopolies are the new black I guess
Edit: apologies - it’s not 30%, it’s closer to 6.5%. Not sure where I pulled the 30 from, but that’s not accurate. Still, the fact that it comprises over 1/20 of the entire country’s GDP seems… strategically unwise, in an economic sense.
E2: I’m not an economist; I am conflating static and year-over-year values, which isn’t apples to apples
Well it doesn’t. 150 billion is nowhere near 30% of 30 trillion.
You’re still way off the mark, here. Market cap is the total value of their stock shares on the market at the current stock price. It has zero relation to GDP, which is meant to represent the value of actual goods and services produced. For that, you need to look at their actual revenues. In 2024, Nvidia had total revenues of about $61B. That’s about 0.2% of the US GDP. Which is still massive, but nothing like what you’re suggesting.
Thanks, it’s frustrating how people seem to constantly confuse a static value with a yearly flow.
Same thing happens when talking about networth vs income.
Wait, 30%?