When Donald Trump returned to the White House in 2025, many in the tech world hoped his promises to champion artificial intelligence and cut regulation would outweigh the risks of his famously volatile trade policies. But less than 100 days into his new term, it’s clear that Trump’s aggressive tariffs—and the global response to them—could pose a major threat to the AI boom that helped drive the last two years of tech innovation.

AI companies are already feeling pressure on multiple fronts. They may face difficulties accessing chips and higher data center costs, and they could be hit even harder if enterprises—the main revenue source for many budding AI firms—become less willing to experiment with new AI solutions during a time of economic........

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