Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.

“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”

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