The Globe and Mail reports in its Thursday, Nov. 5, edition that datacentre stocks fell, while clean-energy shares rose as Democrats took control of Congress.
A Reuters dispatch to The Globe reports that the Democratic sweep raises the prospect of greater scrutiny of industries that benefited from Republican control.
Datacentre operators lost ground, with Applied Digital and CoreWeave down 6.7 per cent and 9.9 per cent. The datacentre boom faced public backlash this year, raising concerns that tighter Democratic oversight could hinder investment as investors become cautious about rising AI spending and uncertain returns.
Analysts doubt legislation will significantly slow datacentre construction, but a Democratic-led Congress may lead to more hearings and investigations on AI development.
Utilities and equipment suppliers exposed to the datacentre boom also came under pressure. Constellation Energy and Vistra, among the power companies most exposed to datacentre projects in Texas, slid 6.7 per cent and 13.8 per cent.
United States hyperscalers resisted the selloff as investors believed a slowdown in datacentre construction could enhance existing asset values and limit Big Tech's AI spending.
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