AI stocks slide as Texas governor result raises data center risks
The Associated Press projected that Democrat Gina Hinojosa defeated incumbent Texas governor Greg Abbott; Hinojosa has backed a moratorium and stricter limits on data center development. In overnight trading, Nasdaq 100 futures fell 0.8%, while CoreWeave dropped 7% and Oracle 4%. It matters because Wells Fargo estimates 27% of planned US data center capacity sits in Texas, so state-level restrictions could delay projects in the largest build market.
SOURCES
- Hacker News (AI)2026-11-04 07:00