What a second Trump presidency means for America's big tech companies | Technology

When the US election result pushed shares of artificial intelligence chip giant Nvidia to a record high and did the same to the price of cryptocurrency Bitcoin, the market delivered its verdict on what Trump Redux means during the less parts of the technological world: a boom.

Shares of electric vehicle (EV) company Tesla jumped nearly 15%, which must have applauded its boss, Elon Musk, whom Trump called a super genius on Wednesday.

But what about people who don't own inventory in Silicon Valley companies but use their products? Tens of millions of users of Musks social media platform, .

Musk could be tasked with making recommendations for drastic reforms aimed at the efficiency and performance of the entire federal government, Trump said. That could grant enormous power over the agencies that regulate its tech companies and others.

X had already become, according to independent technology analyst Benedict Evans, a coordinating site for disinformation and many felt its amplification of false claims polluted the election. So could a Trump administration do something about misinformation on social media?

He won't, Evans said. He likes misinformation. There is a widespread view in technology that content moderation has gotten out of control and we need to take this away. At most you may need to think about amplification [of misinformation] but don't delete stuff. So expect a wilder ride on social platforms, perhaps, as they move to the right.

The 47th president will play a key role in leading an extremely consequential few years for the development of AI and the management of the technological oligarchy of Big Five companies, Apple, Google, Meta, Microsoft and Amazon, which exercise the data and the processing power that shapes the social and economic lives of billions of people. Here, where competition issues, freedom of expression and national security are at stake, a more complex attitude prevails over admiration for musk masks.

As a populist railing against elites, Trump could try to bring down tech monopolies. It was during Trumps first presidency that the Justice Department launched an investigation into Google, which made a case against the company for suppressing competition.

During the election, Trump called Googles CEO Sundar Pichai to complain that the company's search engine wasn't surfacing enough good news and threatened to sue the firm for the company. electoral. He also threatened to jail Mark Zuckerberg if Facebook did anything illegal in the campaign.

He has, at least through people he has appointed, a record of resisting technology in terms of competitive issues, said Professor Rebecca Haw Allensworth, associate dean at Vanderbilt University Law School. Since then, we've seen him embrace technology in general, and Elon Musk in particular. So it cuts in the other direction.

Trump will likely take office with ongoing cases challenging the market power of several major technology companies, led by anti-monopoly Federal Trade Commission Chairwoman Lina Khan. Many expect her to be fired. Still, Choice Vice President JD Vance has expressed support for aspects of its monopoly approach. He said that during the campaign he shared his view that we should be concerned about big tech companies and some of the mergers that lead to censorship of American citizens.

Trump also believes tech giants are giving America global clout, at a time when AI is becoming a national security issue.

China is afraid of Google, Trump said last month when he questioned whether a Google breakdown could destroy the company.

What you can do without breaking it is make sure it's fairer, he said. We want to have big companies, he added. We don't want China to have these companies.

Other dilemmas: Should it make it harder for China to build the powerful microchips needed for AI? Whether AI code remains open source to encourage innovation among small businesses or simply empowers geopolitical rivals with computing power. Trump said he would save TikTok after a decision that its Chinese owners had to sell it if it wanted to continue in the United States, but compromises are everywhere.

In other areas, any Trump plan to reduce incentives for electric vehicle makers would be an overall negative for the EV industry, said Dan Ives, an analyst at Wedbush, an LA financial services firm. This would likely help Tesla's muscles because its existing competitive advantage would be exaggerated if its rivals were hobbled. There are reports that Trump may only modify the subsidies rather than eliminate them. If trade tariffs limit imports of cheaper Chinese electric vehicles, that would further help Musk.

Previously skeptical, Trump now supports cryptocurrency, with this industry hoping, after making large donations to the Trump campaign, this regulation becomes lighter. Crypto-related stocks in Coinbase, MicroStrategy, Riot Rigs, Mara Holdings jumped between 11% and 21%.

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