While Trump's tariff plans are causing widespread market jitters, many AI companies aren't shifting their longterm plans.

Trump said during his first Cabinet meeting on Wednesday that he would "very soon" announce a 25% tariff on EU imports including "cars and all other things." "They've really taken

President Trump was positive on relations with China, while he told his Cabinet the EU had been formed to "screw" the United States.

Microsoft urged the Trump administration to change Biden-era limits on chip exports, warning that provisions of the regulations could give China an advantage in the global AI race if allowed to remain in effect.

The tech giant said rules disadvantaged allies, including India, Switzerland and Israel, and limited the ability of U.S. tech companies to expand.

Nvidia CFO Colette Kress said gross margins are expected to be in the "low 70s" as Blackwell production ramps up before improving later in the year.

Nvidia's quarterly outlook on Wednesday suggested demand from Microsoft , Amazon and other heavyweight tech companies racing to build out AI infrastructure remains robust, though the outcome failed to significantly quell fears of overspending in the booming industry.