Obama never mentioned Donald Trump directly, but the audience clearly understood the reference and burst into applause. The 64-year-old former president added, “I have great confidence in that.”

However, when Colbert asked whether that counted as an official endorsement, Obama quickly made it clear that it did not.

Still, Colbert will soon be looking for something new to do after CBS’ decision to end The Late Show following a 33-year run. The move, announced last July, drew heavy criticism, especially because it came while CBS parent company Paramount was seeking approval for a multibillion-dollar merger with Skydance, a company connected to David Ellison, son of Trump ally Larry Ellison.

CBS executives have repeatedly insisted that the decision to cancel Colbert’s show was purely financial. But David Letterman, who hosted the same late-night slot for 22 years, openly challenged that explanation in an interview with The New York Times.

Letterman acknowledged that social media has reduced the cultural influence of late-night hosts, but said the format still matters because it is simply “humans talking to humans.”

He was also blunt about why he believed Colbert was pushed out, arguing that network executives wanted to reassure Skydance there would be no political complications. Letterman said he believed they were lying about the real reason behind the cancellation.

As Colbert prepares for his final episodes, Obama offered him a message of appreciation.