[FLASH] AI data-center, power stocks slide after Democratic midterm sweep; Texas governor-elect backs moratorium
Democrat Gina Hinojosa won the Texas governor's race on a platform that includes an immediate halt to new data centers. Wells Fargo estimates Texas holds 27% of planned U.S. data-center gigawatts, per CNBC. Reuters reported Applied Digital down 8.8%, CoreWeave down 9.5%, GE Vernova down 11.5%, Constellation down 9.2% and Vistra down 15.4%, while Amazon and Microsoft each rose about 6%. Analysts quoted by Reuters doubt legislation alone would seriously stall construction; Siebert's Mark Malek said the buildout 'will become more expensive, not disappear.' Points to watch: whether any emergency-order or state-level moratorium steps actually happen, and how neocloud financing responds.