Fears of an AI crackdown after midterms spark $2 trillion rout in tech stocks
Shares sank, with the tech-heavy Nasdaq dropping over 5%, as investors reacted with fear that a Democratic Congress — and states across the country -— would crack down on AI and data centers.
Concerns that Democrats in the US will push back against data center projects are weighing on an AI trade that is already on shaky footing amid growing doubts about profitability.
Global markets are being roiled due to concerns over US data centre expansion and AI regulation.
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