Trump Threatens Tech Tariffs in Digital Taxes Reprisal | Bloomberg Tech 8/26/2025

Market Trends & Industry Dynamics - AT&T plans to acquire $25 billion worth of spectrum licenses to enhance its spectrum holdings and improve wireless communication capacity [1][3] - The U S administration is actively involved in technology issues, addressing digital taxes, tariffs, and AI development to maintain a leading role against China [12][16] - Digital service taxes imposed by European countries are generating significant revenue, such as France collecting $750 million per year, leading to retaliatory threats from the U S [32] - AI disruption is causing concern among investors in the software sector, questioning the demand for niche software platforms [84][86] Investment Opportunities & Potential Risks - The semiconductor industry faces uncertainty due to potential tariffs and geopolitical tensions, particularly regarding access to the Chinese market [54][56] - NVIDIA's Blackwell and Blackwell Ultra GPUs are expected to drive significant revenue, potentially leading to a $300 billion data center segment and a $6 trillion market cap [66][67] - Power supply constraints may become a critical issue for AI data centers, creating investment opportunities in energy solutions like Bloom Energy [69][70] Company Strategy & Performance - AT&T's spectrum investment is seen as a valuable move to increase capacity and improve customer experience, utilizing tax advantages for infrastructure development [7][9] - NVIDIA's management will be questioned on strategies to remain relevant in China despite restrictions, with expectations of 50% earnings per share and revenue growth [60][61] - Elon Musk's lawsuit against Apple and OpenAI is unlikely to succeed, as Apple has the right to choose its partners, and the arrangement is not necessarily exclusionary [36][39]