Democrats Win Texas Governor's Race, and AI Stocks Tumble Overnight
AI stocks slide as Texas governor result raises data center risks
Nasdaq-100 futures fell 0.8% and AI-linked names took a harder hit after Democrat Gina Hinojosa, who backs a moratorium on AI data centers, was projected to defeat incumbent Greg Abbott in Texas. CoreWeave dropped 7%, SpaceX 6%, Oracle 4%. Wells Fargo estimates 27% of planned U.S. data center gigawatts sit in Texas, and its strategist called a Democratic win a possible "left-tail event" for the AI trade.
Texas is a fertile ground for that. And if he were to lose, I think that fertile ground is largely barren. So, that's going to be a challenge.
- Shitty-kitty
To a public already apprehensive about what A.I means for their jobs and their future, the shady and irresponsible way the industry went about the Datacenter build-out convinced them that the industry is not to be trusted. Can't say I blame them. If they don't get their act together, datacenters will be the least of their worries. With what happened today, many Republicans will be thinking twice about standing in the way of choking regulation.
- ZeroGravitas
Why do AI stocks rely on corrupt assholes being in charge?
Seems like a moment for "are we the baddies?" style reflection.
- schnitzelstoat
Loudoun County, Virginia is about to get even richer.
- ck2
however Florida went nearly 100% maga across all seats
so basically wall to wall datacenters and ice-prisons inbound
they don't have to worry about global warming, they'll waive diesel generator permits
or maybe even start new coal plants for them
also charter-schools, new Governor is on his way to becoming a billionaire from "managing" them
- technolols
With all due respect, your sector deserves the shellacking that's coming after the past two years of intolerable behavior.