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We recently published a list of 12 AI Stocks Making Waves Today. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other AI stocks making waves today.
China’s foreign ministry recently released a video on its social media feeds, complete with a voice-over in American-accented English, comparing the acceptance of U.S. President Donald Trump’s 145% tariffs to “drinking poison”.
“China won’t kneel down, because we know standing up for ourselves keeps the possibility of cooperation alive, while compromise snuffs it out… Imperialists are always arrogant. If they show a bit of reason it’s only because they are forced to do so”
A Chinese official revealed that Beijing believes yielding or compromising now would only weaken China in the future and that it would authorize Trump to change the terms later. These ongoing tariff riots aren’t superficial, rather, they are a reflection of deeper tensions in the ongoing US-China rivalry, particularly over dominance in emerging technologies such as artificial intelligence.
READ ALSO: 12 AI Stocks Analysts Are Talking About Right Now and 10 AI Stocks in the Spotlight This Week.
In the initial days of the tariff frenzy, former Canadian Deputy Prime Minister Chrystia Freeland had called on President Donald Trump to take the threat of tariffs off the table. She argued that the U.S. will need Canadian energy in the race to achieve dominance in artificial intelligence.
Freeland has deemed the tariffs as “the dumbest trade war in history,” stating how the U.S.-Canada trade relationship is largely balanced when oil, gas, and electricity are excluded. She said that the tariff threat needs to be taken “definitively off the table.”
“You are really lucky that Canada is the country that sells you oil and gas and electricity. We are a much more reliable supplier than, say, Venezuela. And the fact is, particularly with AI, America’s needs for energy are only going to increase.”
Canada aside, the artificial intelligence boom is being slowed due to the overall global trade war triggered by the Trump administration. Upcoming earnings reports from tech giants and utilities powering the massive data centers will reveal whether tit-for-tat tariffs, particularly between the U.S. and China, are making businesses change their plans for building data centers and other infrastructure.
China plays an important role in the production of AI hardware. It was excluded from a 90-day tariff reprieve earlier. According to analysts, the 145% U.S. tariffs on Chinese goods will sharply increase data center costs if an exemption on electronics is rolled back.