Will the blue wave slow data center development?

Good afternoon. Wall Street spent Thursday putting a price on Tuesday’s election, and the AI trade took the hit.

The Nasdaq Composite fell nearly 4% and slipped more than 10% below its October record, confirming a correction, as investors fretted that a Democratic sweep will slow data-center buildouts, Investing.com reports, citing Reuters. The Nasdaq 100 was on track to lose more than $2 trillion in market value, with Nvidia down about 9% and AMD off roughly 17%.

Chip, memory, and neocloud names led the washout, with Sandisk plunging about 20% and CoreWeave and Nebius each dropping double digits, according to Business Insider. Hyperscalers that held up Wednesday joined the slide, and the iShares Semiconductor ETF was headed for one of its worst days in years.

Two days after voters backed data-center restrictions on nearly every local ballot, OpenAI published a compute-campus policy blueprint that pledges community input, published construction plans, an end to NDAs with public officials, and paying the full cost of power at sites it owns, CNBC reports.

Meta opened Muse Voice video chat to every U.S. user, letting people call a customizable animated Muse avatar powered by new realtime avatar and voice models, TechCrunch reports. The feature is live on mobile, web, and Mac ahead of Meta’s planned year-end Muse Charm wearable.

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The Wire

The latest headlines from our live AI news feed.

600,000 Nvidia H200 chips pile up in Hong Kong as China withholds import approval
Reuters

Nvidia’s workaround for data center backlash: retrofitting old telephone buildings
The Information

METR finds AI is roughly doubling Anthropic's pace of AI R&D
METR

OpenAI launches GPT-6 Cyber with 'Critical' cybersecurity rating
Reuters

Parents sue Google, alleging Gemini on a school Chromebook deepened their teen's mental health crisis
Bloomberg Law

See all of The Wire →

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Big Tech is scrambling to rebrand the buildout with community cash, school benefits, and labor and environmental concessions after restrictive ballot measures went roughly 43–1 across ten states, Axios reports. Analysts say about 60% of planned 2028 U.S. capacity now faces delay risk.

Sen. Bernie Sanders called for a national data-center moratorium, and House Democrats amplified pausing advanced AI as a Day One priority, as a CNBC poll found 56% of voters saying AI and data centers were a crucial or major ballot factor, according to CNBC.

Dropbox agreed to buy Tigris Data for $350 million to power an S3-compatible object store for AI agents inside DBX Agent Cloud, TechCrunch reports, with the deal expected to close in the fourth quarter.

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Markets

Here is how a basket of AI-linked names traded in Thursday’s U.S. cash session.

Biggest winners

Biggest losers

Prices are from Thursday’s U.S. trading session, November 5, 2026, versus Wednesday’s close.