Big Tech claims voters’ AI backlash is “anti-Trump” not “anti-tech”
- Democrats won control of the U.S. House and Senate in Tuesday's midterm elections, shifting power away from President Donald Trump and ending Republican dominance of Washington.
- The industry previously operated under a light-touch regulatory environment, but incoming Congressional leaders now prioritize scrutiny over data center energy usage, pollution, and the significant costs of rapid AI expansion.
- Markets rallied on Wednesday, yet AI-dedicated neocloud firms like CoreWeave and Nebius faced declines, reflecting investor anxiety over potential data center construction delays and regulatory hurdles.
- Governor-Elect Gina Hinojosa in Texas is maintaining a moratorium on new data center construction until grid rules and local impact safeguards are established, signaling Democratic regulatory intent.
- Analysts expect a more contested policy environment as the White House promotes rapid AI expansion while a new Congress demands enforceable safety standards, forcing companies to balance competing priorities.
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The victory of the Democrats, who won both the Senate and the House of Representatives, paved the way for investigations and moratoria on data centers.
Tech hit by new AI worries on positive day for most markets
However, broader markets mostly rallied and oil plunged after Donald Trump's Republicans were dealt a historic defeat that was blamed on high prices, tariffs and the Iran war. The result stoked hopes he will look to wind down the Middle East conflict, which would help temper inflation, and even soften his stance on trade. But AI-linked firms came under the cosh amid fears for planned data centre construction projects as well as renewed scrutiny …
ANALYSIS: Trump's midterm drubbing demonstrates power of data center opponents
Data center opponents were among the biggest winners of the Democrats' landslide victories in the US midterm elections, pointing to a shifting public mood on AI and, investors said, a possible slowdown of the boom that has propelled US economic growth and stock markets.
(Seoul = Yonhap News) Reporter Park Cho-rong = With the Democratic Party's landslide victory in the U.S. midterm elections, attention is focused on whether stricter regulations on artificial intelligence (AI) data centers will actually be implemented....
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