A Politico report on possible Trump semiconductor tariffs has refocused markets.
NVIDIA told investors AI demand remains strong but warned memory shortages could
last to 2028. With tightening supply and firmer demand, proposed tariffs would
pressure corporate margins and would disproportionately hit the AI ecosystem on
structural and supply grounds. NVIDIA’s largest customers—big tech firms—would
face increased scrutiny at a critical time; memory makers and other chips
suppliers would also be challenged but generally have stronger pricing power to
pass costs downstream.
