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Big Tech's "Magnificent Seven" heads into earnings season reeling from Trump turbulence
As Big Tech kicks off its quarterly earnings season this week, the industry’s bellwether companies have been thrust into a cauldron of uncertainty and turmoil that they didn’t anticipate when Donald Trump re-entered the White House less than 100 days ago.
SAN FRANCISCO (AP) — As Big Tech kicks off its quarterly earnings season this week, the industry’s bellwether companies have been thrust into a cauldron of uncertainty and turmoil that they didn’t anticipate when Donald Trump re-entered the White House nearly 100 days ago. That display of unity reflected a belief that Trump’s second stint in the White House would be a refreshing change from the heavy-handed regulation of President Joe Biden’s administration while unleashing even more lucrative opportunities in artificial intelligence and deal-making. And Nvidia absorbed a significant setback last week when the Trump administration banned it from selling one of its popular AI chips to China, prompting the company to record a $5.5 billion charge to account for the stockpile of processors that it intended to export to that country.
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