President-elect Donald Trump promised tariffs for months. In less than two weeks, he can begin to implement them. Investors expect Trump to impose sweeping tariffs on many countries, including potential 60% tariffs on China.

Nvidia (NASDAQ: NVDA) has been among the best-performing stocks of 2024, and it's easy to see why. The company provides the graphics processing units (GPUs) that quickly became the gold standard for powering artificial intelligence (AI) systems.

Nvidia (NASDAQ: NVDA) is a leading supplier of networking hardware and chips for gaming, computing, robotics, and especially data centers, which is where most artificial intelligence (AI) development takes place.

Some numbers support the idea, too. About 25% of companies using generative AI will launch AI agent pilots this year, and that will increase to 50% by 2027, Deloitte forecasts. At a compound annual growth rate of 19%, the agentic AI market is expected to reach more than $48 billion by 2032, according to DataIntelo.

From acronyms like FANG, then FAANG, to the "Magnificent Seven," investors created ways to group the biggest and fastest growth technology names. While many tech companies should continue to show strong growth in revenue and earnings,