AI stock selloff follows voter pushback on data centers

Wall Street experienced a sharp selloff Thursday, with major indexes falling as investors questioned the sustainability of the AI boom following election victories for candidates promising to restrict data center construction. Voters in Ohio, Georgia, and Texas elected governors who campaigned to temporarily halt new data center projects, while 46 of 47 ballot measures favored greater restrictions nationwide. J.P. Morgan economists estimate AI-related investment has driven nearly a quarter of U.S. economic growth over the past year. The Trump administration is exploring building data centers on federal land in remote locations like North Dakota and Alaska to address opposition. Democratic lawmakers have proposed moratoriums and cost-sharing legislation, setting up a potential confrontation with the White House over AI expansion.