President Donald Trump said concerns about artificial intelligence are "all a hoax" and that data centers "make people wealthy, and they make states wealthy," during a call with Nvidia (NVDA) CEO Jensen Huang, who put him on speakerphone while speaking on stage at the All-In Summit in Los Angeles Monday, CNBC reported, citing a video posted by an attendee.

Trump also called data centers the "oil of the next 20, 25 years" and told Huang, "I'm with you all the way," according to the report.

Trump has published multiple posts describing AI safety concerns as a "hoax" and a "scam," including one calling those worried about AI and data centers "Revolutionaries for a Bad and Evil Cause," and said he sees no need for additional AI regulation.