Goldman Sachs warns Democratic successes in state and local elections could lead to temporary construction moratoria hitting 45% of planned US data center capacity

Goldman Sachs warns that Democratic wins in state and local elections could trigger temporary construction moratoria covering 45% of planned US data center capacity, with Texas alone accounting for about 25% of planned additions. Texas state Rep. Gina Hinojosa ran on halting new permits until safeguards for power, water and local communities are in place, a stance Jefferies estimates puts 13.3 GW of announced Texas projects at risk. The warning matters because permitting politics is becoming a direct constraint on the AI infrastructure buildout, not just power supply.

• Rohan Paul2026-11-04 13:09