We recently published a list of 9 AI Stocks In Focus: Tariffs and Key Updates. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other AI stocks in focus.

President Donald Trump’s new tariff regimes have been introduced under the International Emergency Economic Powers Act. A 10% tariff was imposed on nearly all countries and territories this Saturday, with rates expected to escalate higher and become even more individualized for the “worst” offenders. In a tit-for-tat blow against Trump and his tariffs, China has moved to impose a 34% tax on all US goods.

Investment firm Wedbush has recently criticized these tariffs, citing them as a potential “economic Armageddon” for the U.S. tech sector. Analysts headed by Dan Ives believe that the impact of these tariffs could be even worse than previous major market crashes, such as the dot-com bubble and the 2008 financial crisis. This could wipe out a decade of technological progress in the US.

Another investment firm, Bernstein, notes how China imports $10 billion worth of chips from the United States annually. $8 billion of these are Central Processing Units (CPUs) from Intel, commonly used in laptops and servers. Since China is its largest market in 2024, it will be impacted by the tariffs. Other companies being hit by the tariffs include Micron, considering some of its chips sold in China are imported from the US. This is despite the country having production facilities in China and other countries.

All in all, the firm is persistent that continued tariffs would imply lower growth, lower revenues, and lower profits for companies. For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.