What will Donald Trump’s second stint in the White House mean for a US tech industry in the throes of an artificial intelligence (AI) frenzy?

For sure Elon Musk, the world’s richest person, will play a central role in Trump’s Silicon Valley policies after backing the Republican’s presidential campaign.

“A star is born: Elon!” Trump said in a lengthy shoutout to the Tesla and SpaceX boss during his victory speech after Tuesday’s election.

Musk is slated to take a significant role in the White House, where he will likely have influence over the regulation of tech, including in matters related to his companies Tesla, SpaceX and the X platform (formerly Twitter).

At Musk’s side, will likely be a group of tech “accelerationists,” members of Silicon Valley’s more libertarian right-wing, who want innovation to thrive unfettered by the government.

Unlike their early caution during Trump’s first term, tech titans were swift to laud the president-elect on his victory.