Democratic wins threaten data centre boom in Texas, Georgia and Ohio

Democratic victories in key US states threaten the expansion of energy-intensive data centres, potentially slowing the AI boom that has boosted Wall Street over the past four years. The wins include Texas, where Democratic candidates backed tighter regulation, with governor-elect Gina Hinojosa calling for a moratorium on data centres and an end to tax exemptions. Concerns over water and energy use drove public backlash. Analysts warn stricter rules could raise investment costs for AI firms, though the long-term theme remains intact. Musk joked about space-based data centres, while new Democratic governors in Georgia and Ohio also pledged tighter oversight.