The intense sea surface temperature cooling caused by tropical cyclone‐induced mixing lasts several weeks and may thus influence a later cyclone passing over it. Using a 28 year analysis spanning the North Atlantic, eastern Pacific, and Northwest Pacific, we systematically demonstrate that, on average, when tropical cyclones encounter lingering wakes, they experience sea surface temperatures that are ∼0.25–0.5°C colder. Consequently, the intensification rates are ∼0.4−0.7normalm1emnormals−1360.3emnormalh lower for cyclones when they interact with wakes, consistent with the maximum potential intensity theory. The probability for cyclones to encounter lingering wakes varies positively with cyclone frequency, is ∼10% on average, and has been as high as 27%–37% in the past. These large interaction probabilities reduce the mean intensification rates for cyclones by 3%–6% on average and by ∼12%–15% during the most active years. “Cyclone‐cyclone interactions” may therefore represent a mechanism through which tropical cyclones self‐regulate their activity to an extent on intraseasonal time scales.