AI Stocks Rebound as Trump Backs Data Centers After Post-Election Sell-Off

U.S. technology stocks rebounded Friday after a post-election sell-off, with the Nasdaq rising 1.09 percent to close at 24,579.42, though the Dow fell 0.46 percent. The recovery only partially recouped Thursday's steep losses, when the Nasdaq plunged 5.5 percent and entered correction territory. The sell-off followed Democratic midterm victories and voter-approved restrictions on data centers across multiple states, raising concerns about AI infrastructure expansion. Companies tied to the AI boom, including the Magnificent Seven, lost about $1 trillion in market value Thursday. President Donald Trump blamed Democrats for the decline but reaffirmed his support for AI development. Analyst Dan Ives called Thursday's rout a "golden buying opportunity," comparing it to past sell-offs. Nvidia gained about 3 percent Friday after dropping 9 percent, while AMD jumped 11 percent. The Data Center Coalition said it remains committed to expansion, though Texas' Democratic governor-elect has proposed a moratorium on new data-center approvals.