Nasdaq plunges into correction, threatening data centers and AI
The Nasdaq fell 5.1% on Thursday into correction territory, more than 10% below its October record, as investors braced for a data-center reckoning after the Democrats’ midterm sweep. Voters rejected new data centers in at least 46 of 50 related referendums, and analysts warned construction pauses could affect around 30% of planned 2028 capacity, while OpenAI responded by releasing a “National Community Compact” pledging to cut peak power use and share impact data. It matters because political opposition to data centers has moved from a local issue to a market-moving force on the AI buildout, with Meta’s president saying hyperscalers are now weighing building outside the United States.
SOURCES
- Hacker News (AI)2026-11-05 16:43