Following President-elect Donald Trump’s victory, high tech executives have congratulated him and expressed their willingness to work together with his administration.
What Occurred: On Wednesday, Tesla Inc. TSLA, SpaceX, and Neuralink CEO Elon Musk, a key ally to Trump throughout his marketing campaign, unsurprisingly congratulated the President-elect.
Trump has beforehand spoken about making a place for Tesla CEO in a “division of presidency effectivity” to scale back the federal workforce.
Following the victory, Tesla shares surged over 14%, with traders hopeful {that a} Trump presidency would profit the corporate.
Different tech behemoths akin to Amazon.com, Inc. AMZN founder Jeff Bezos, Apple Inc. AAPL CEO Tim Cook dinner, Alphabet Inc.’s GOOG GOOGL boss Sundar Pichai, Meta Platforms, Inc. META CEO Mark Zuckerberg congratulated Trump.
Bezos praised Trump’s win as an “extraordinary political comeback and decisive victory.” Earlier than Election Day, Bezos and The Washington Submit sparked controversy by withholding an endorsement for the primary time in many years. Bezos defended the choice in an op-ed, citing issues over “notion of bias.”
See Additionally: ‘AI Haves Vs. Have-Nots’: Palantir’s Ryan Taylor Outlines Firm’s Successful Technique
Apple CEO and Google boss additionally congratulated Trump, expressing their eagerness to interact with the brand new administration.
OpenAI CEO Sam Altman and Microsoft Company MSFT CEO Satya Nadella additionally took to X, previously Twitter, to congratulate the President-elect. Within the follow-up publish, Altman additionally careworn the significance of the U.S. sustaining its management in AI improvement whereas upholding democratic values.
Zuckerberg additionally took to Threads, and acknowledged Trump’s “decisive victory.” He additionally expressed optimism about future alternatives.
Earlier in September, Trump mentioned Zuckerberg instructed him throughout a name after the July assassination try that he’ll not vote for a Democrat on this election. Nonetheless, a Meta spokesperson denied this, stating that Zuckerberg has not endorsed both Trump or Kamala Harris.
Others together with Intel Corp. INTC CEO Pet Gelsinger, IBM IBM CEO Arvind Krishna, Cisco Programs CSCO CEO Chuck Robbins, Uber Applied sciences UBER CEO Dara Khosrowshahi, and Field Inc. BOX CEO Aaron Levie, additionally prolonged their congratulations to Trump.
Alternatively, LinkedIn co-founder Reid Hoffman, a outstanding supporter of Vice President Harris’ marketing campaign, whereas acknowledging Trump’s win, urged People to unite.
“I—and lots of others—raised alarms in regards to the anti-democratic actions Donald Trump took throughout his first Presidency, and has promised to take this subsequent time,” he mentioned in a publish on X, including that Trump’s supporters assured him that such conduct would not proceed.
Why It Issues: Beforehand, it was reported that expertise traders are involved that Trump’s presidency might result in larger tariffs, straining U.S.-China relations and disrupting the tech provide chain.
Corporations like Nvidia Company NVDA, Apple, and Tesla might face retaliation from China. Analysts additionally worry that the President-elect’s administration might gradual the AI revolution.
GOP sweep of the White Home and Congress might increase the inventory market however negatively impression Large Tech, the analysts have said.
Trump’s presidency might additionally damage the broader EV market as a result of lack of tax incentives. Nonetheless, Tesla’s dimension and place might present an edge, as larger tariffs might restrict competitors from Chinese language firms like BYD and Nio.
Throughout Trump’s first time period, many tech leaders overtly opposed him, resigning from advisory councils and difficult his insurance policies.
Nonetheless, they confronted penalties, together with Amazon’s declare that it misplaced a $10 billion Pentagon contract attributable to Trump’s alleged private vendetta towards Bezos, reported the New York Occasions.
This time, tech leaders are taking a unique method. Some, like Zuckerberg, who Trump threatened to place in jail, started aligning with the President-elect earlier than the election. Former critics, together with Bezos, have avoided public criticism, the report famous.
Learn Subsequent:
Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and revealed by Benzinga editors.
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
