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Jan 18, 2026 12:00 PM

Consumer Tech News (Jan 12-16): Trump Imposes 25% Tariff on Nvidia, Eyes Starlink, Pushes $1.5T Military Budget & More

President Donald Trump imposed a 25% tariff on select high-end artificial intelligence chips from companies like Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD).

Trump revealed his plans to speak with Musk, the CEO of SpaceX, about the possibility of using the company's Starlink satellite internet service to reinstate internet access in Iran, which has been shut down for four days due to ongoing anti-government protests.

Trump administration formally approved Nvidia sales of its H200 artificial intelligence chips to China.

Trump has doubled down on his criticism of his predecessor Joe Biden‘s policies surrounding electric vehicles at the Detroit Economic Club, which resulted in an “EV mandate.”

Trump's pledge to increase the country's military budget from $900 billion to $1.5 trillion.

Greenland and Denmark's foreign ministers are set to hold talks with U.S. Vice President JD Vance and Secretary of State Marco Rubio at the White House on Wednesday, amid President Donald Trumpā€˜s ongoing push to take over the self-governed Danish territory.

Trump administration will reportedly propose that PJM Interconnection, the largest power grid operator in the U.S., hold an emergency auction allowing tech giants and hyperscalers to bid on 15-year contracts for building new power plants.

Trump administration struck a trade agreement with Taiwan aimed at pulling hundreds of billions of dollars in semiconductor investment onto U.S. soil while easing tariff pressure on key Taiwanese exports.

Trump announced that his administration is working with major U.S. tech companies, particularly Microsoft Corporation (NASDAQ:MSFT), to prevent Americans from bearing the brunt of data center power consumption.

India is reportedly considering a proposal that would require smartphone manufacturers, including Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. Ltd. (OTC:SSNLF), to disclose their source code and make certain software changes to enhance security.

Earnings Results

Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) posted net sales of $33.73 billion, topping the $33.27 billion analyst consensus. EPS came in at $3.14, above the $2.79 consensus estimate.

Bank of America Corp (NYSE:BAC) reported fourth-quarter EPS of 98 cents, beating the analyst consensus estimate of 96 cents. Revenue, net of interest expense, increased 7% year-over-year (Y/Y) to $28.532 billion, beating the analyst consensus estimate of $27.944 billion.

Entertainment, Electrical Equipment & Electricity Producers

Spotify Technology SA (NYSE:SPOT) is moving ahead with another price increase as it seeks to strengthen profitability amid moderating growth, leadership changes, and heightened attention from investors and artists alike.

Nano Nuclear Energy Inc. (NASDAQ:NNE) issued a formal Request for Information to identify partners for future surface fission