President Donald Trump took to Truth Social on Thursday to celebrate what he sees as wins for the U.S. chip industry, and honestly, the numbers are pretty hard to argue with. He praised Nvidia Corp. (NASDAQ: NVDA) for its blockbuster earnings and guidance, and called Micron Technology Inc. (NASDAQ: MU) one of the world's "hottest" companies after it announced a fresh $10 billion research investment. For Trump, it's all proof that his policies are pulling in trillions in domestic investment.

Trump Congratulates Jensen Huang on Nvidia's Numbers

In a Truth Social post, Trump didn't hold back: "Incredible numbers," he wrote, adding, "Congratulations to Jensen Huang... Only in America!"

And he's not wrong about the numbers being incredible. Nvidia just posted second-quarter revenue of $96.22 billion, up 106% from a year earlier. The company also guided third-quarter revenue to $108 billion, which would represent roughly 1,730% revenue growth over four years. And for fiscal 2028, Nvidia expects revenue to grow another 70%. That's the kind of growth that makes other companies look like they're standing still.

Micron's $10 Billion Bet on U.S. Research

In a separate post, Trump turned his attention to Micron, calling it one of the "hottest" companies in the world. The chipmaker just announced a $10 billion investment in research labs, on top of its earlier $250 billion commitment to U.S. manufacturing. Trump framed it as a big win for American jobs and technology leadership.

"They are keeping us at the absolute forefront of A.I. and Advanced Computing," Trump said, adding that "combined with their previous tremendous 250 billion dollar commitment, they are creating tens of thousands of great American jobs."

Earlier this month, Micron unveiled the Micron Research Labs, a U.S.-based hub anchored by a flagship campus in Boise, Idaho. The focus is on advancing memory and AI technologies over the next decade. Trump's response? "I have made it clear that America will lead the way to a new Golden Age of Science."

Tariff Uncertainty Looms Over the Industry

But here's the twist: all this praise comes as the Trump administration is reportedly considering new semiconductor tariffs that could extend to laptops, gaming consoles, and data center servers. POLITICO reported on Thursday that the proposal is on the table, and tech companies are already lobbying against it, warning that it could raise costs and slow down the AI data center buildout.

It's a delicate balance. On one hand, the administration wants to boost domestic chip production. On the other, tariffs on imported components could make it more expensive for companies like Nvidia and Micron to do business. Micron, notably, is currently the only U.S.-based manufacturer of high-bandwidth memory, a component the administration has framed as central to domestic AI supply chain security. So the stakes are high.

Trump's Own Stock Moves in Nvidia and Micron

Trump's enthusiasm for these companies isn't just rhetorical. His financial disclosures show he's been actively trading both stocks. In a filing from May, he reported more than a dozen separate Nvidia transactions during the first quarter of 2026, with purchases and sales ranging from $1,001 to $1 million. He also made several Micron purchases, ranging from $1,001 to $250,000.

But in his most recent disclosure earlier this month, he sold between $15,001 and $50,000 of Nvidia stock on June 23. No Micron transactions were reported during that period. So while he's publicly cheering on these companies, his personal portfolio tells a slightly more nuanced story.

As for the market's reaction, Nvidia's shares closed 8.74% higher on Thursday at $227.98, though they dipped 0.81% in extended trading. According to market data, Nvidia's stock has a Momentum score in the 50th percentile and a Growth score in the 99th percentile. So the market is still betting big on Nvidia's future, even if the short-term momentum is lukewarm.

So, what's the takeaway here? Trump is using these chip companies as evidence that his policies are working, and the numbers do support that narrative. But the looming tariff threat could throw a wrench in the works. For now, investors seem to be focusing on the positive, but it's worth keeping an eye on how the tariff situation unfolds. After all, in the world of AI and semiconductors, the only constant is change.