President Donald Trump said on Truth Social on Apr. 15 that all necessary permits will be expedited and quickly delivered to Nvidia (Nasdaq: NVDA) and all other companies that are committed to being part of the "Golden Age of America."
On Apr. 14, Nvidia announced that it will create their artificial intelligence (AI) supercomputers in the United States exclusively. The chipmaker committed 1,000,000 square feet for the U.S.-based manufacturing and testing space.
NVIDIA said it is building supercomputer manufacturing plants in Texas, with Foxconn in Houston and with Wistron in Dallas. The mass production at both plants is expected in the next 12-15 months.
When Trump announced “reciprocal tariffs” on countries on Apr. 2, dubbed “Liberation Day,” he levied a 32% tariff on imports from Taiwan. The country is a major manufacturing hub for Nvidia.
However, Trump later paused the tariff hike for 90 days on Apr. 9 and the current tariff on Taiwanese imports stands at 10%.
On Apr. 12, the Trump administration exempted smartphones, computers, and other electronics from its reciprocal tariffs — even those from China. The decision sent a relief to tech companies like Nvidia.
On Apr. 14, Trump said he would announce a new tariff rate on imported semiconductors over the next week. There would be flexibility with some companies in the sector, he added.
One of the main purposes of the president’s tariff policy is getting companies to concentrate their manufacturing units in the U.S. to boost domestic production and jobs.
The White House referred to Nvidia’s decision as the “Trump effect.” The statement read, “Onshoring these industries is good for the American worker, good for the American economy, and good for American national security — and the best is yet to come.”
The NVDA stock has managed to scale back to pre-"Liberation Day" levels and was trading at $110.71 in pre-market hours on Apr. 15.How Nvidia and AI — interacts with crypto
Notably, AI is one of the dominant emerging technologies that has intensively interacted with the crypto industry. In fact, Nvidia's chips are high in demand in the crypto mining industry.
As far as AI coins are concerned, their market cap has soared 1.6% within the last 24 hours to $21 billion. On the other hand, the overall crypto market cap has declined 1.7% during the same period to $2.7 trillion.
