US midterm results put 141 GW of data-centre plans at risk, ICICI Bank says

Democratic victories in US midterm elections threaten to slow data-centre expansion, potentially easing bond yields, according to an ICICI Bank report. The report says 141 GW of planned capacity in Texas, Georgia and Ohio faces tighter policy scrutiny, as incoming governors campaigned on restricting projects over electricity and water concerns. ICICI Bank noted restrictions require legislative support, but slower AI investment could reduce tech borrowing and inflation, supporting Treasury markets. Two-year yields fell 9 basis points to 4.54 per cent.