Wall Street and AI stocks slide as voter pushback threatens data center growth

Wall Street experienced a sharp selloff Thursday, with all three major stock indexes falling as investors questioned the sustainability of the artificial intelligence boom, following election victories for candidates who campaigned to restrict data center construction. The losses came two days after voters in Ohio, Georgia, and Texas elected governors who promised temporary halts on new data center development, while 46 of 47 ballot measures nationwide favored greater restrictions. Economists at J.P. Morgan estimate AI-related investment has accounted for 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, while Democratic lawmakers have proposed new restrictions that could face a presidential veto. Critics cite environmental impacts, rising electricity costs, and limited permanent job creation.