The Democrats' stunning rout of the Republicans during the midterms this week wasn't just a stinging rebuke of President Donald Trump, but also a potential roadblock to huge plans to build artificial intelligence data centers across the country.
Since the landmark results came in, tech and AI stocks have been jolted by market volatility.
The most valuable tech companies in the U.S. and Europe were hit with a massive sell-off on Thursday as investors got nervous.
Nvidia lost 9.3%, with AMD shedding 17.3%, Microsoft 3.6%, Micron 17.5%, Broadcom 10.4%, Tesla 10.8% and SpaceX 9.1%.
Neoclouds, which rely on their ability to serve AI computing power and are involved in massive data center projects, were also hit particularly hard. Nebius dropped 15%, Iren fell 17% and CoreWeave 10% on Thursday.