No problem functionally. I have seen this done many times. However, if this has to pass inspection it may be a judgement call for the inspector. My feeling is that most inspectors would overlook this but some may get sticky. If the welder has a suitable main breaker, (not just a main switch) and your cable is either within the limits for tap conductors or upgraded to 100 Amp rating, it will be easier for the inspector to pass or ignore the installation.
Put another way, if the welder has a main breaker and the cable is rated for 100 Amps your inspector will probably pass the installation.
Bill
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"Why not the best?"
Jimmy Carter