Democrats Win US Midterms; AI Stocks Drop on Data Center Fears
The US midterm elections resulted in a Democratic majority in both the House of Representatives and the Senate, handing President Donald Trump a significant defeat. The outcome sparked concerns over stricter regulation of AI and data centers, leading to a drop in tech stocks, including Microsoft, Alphabet, and Amazon. Several newly elected Democratic governors, such as Gina Hinojosa in Texas and Keisha Lance Bottoms in Georgia, have proposed moratoriums on new data center construction, citing energy and environmental concerns. This has raised fears about project delays for companies like Alphabet, which plans to build AI data centers in Texas. Meanwhile, the gold price surpassed $4,000 per ounce, and the DAX index rose despite negative Asian market cues.
- •Democrats gained control of both the US House and Senate in the 2026 midterm elections.
- •Gina Hinojosa, elected governor of Texas, has called for an immediate moratorium on data center construction.
- •Keisha Lance Bottoms, elected governor of Georgia, also supports a temporary statewide halt on new data centers.
