The big rocket $SPCX can be shorted again
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老腊肉-kevin
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#美国中期选举：市场有哪些期待？ Democrats voted for “anti-data-center” policies—are AI infrastructure stocks getting buried as a group?
The worst hit in tonight’s premarket isn’t AMD, but the investors betting on AI data centers. The sector is flashing red: CoreWeave down 9.04% premarket, SpaceX down 8.07%, IREN down 6.70%, Nebius down 6.48%, and Oracle down 4.99%. This isn’t retail investors running for the exits; institutions are repricing political risk.
The cause is straightforward: Democrats swept the midterm elections, Texas got a new governor, and the new governor’s strongest campaign promise was to pause construction of new AI data centers.
Texas accounts for a quarter of the US’s data center capacity projected for 2030. This strikes at the most vulnerable point of AI infrastructure. Atlanta, Georgia, is the most active data center construction market in the US, and its state also turned blue.
The arguments against data centers are simple: they drive up electricity prices, make noise that disturbs residents, and consume staggering amounts of water. The jobs and tax revenue they create aren’t commensurate with the subsidies state governments provide. Even some Republicans have turned against them.
What are investors doing?
They’re pulling out of asset-light cloud companies that “borrow money to build data centers” and taking shelter in AI hardware businesses with strong earnings, cash flow, and limited political exposure.
IREN’s sharp premarket drop, with CoreWeave and Nebius still underwater, is a signal in itself.
The market isn’t trading on “AI is over”; it’s trading on “political approval for AI infrastructure is about to get harder.” Those who depend on policy are getting hammered; those who depend on orders can weather the storm. This selloff is targeting balance sheets, not the narrative.$SPCX $ORCL $SOXL
The worst hit in tonight’s premarket isn’t AMD, but the investors betting on AI data centers. The sector is flashing red: CoreWeave down 9.04% premarket, SpaceX down 8.07%, IREN down 6.70%, Nebius down 6.48%, and Oracle down 4.99%. This isn’t retail investors running for the exits; institutions are repricing political risk.
The cause is straightforward: Democrats swept the midterm elections, Texas got a new governor, and the new governor’s strongest campaign promise was to pause construction of new AI data centers.
Texas accounts for a quarter of the US’s data center capacity projected for 2030. This strikes at the most vulnerable point of AI infrastructure. Atlanta, Georgia, is the most active data center construction market in the US, and its state also turned blue.
The arguments against data centers are simple: they drive up electricity prices, make noise that disturbs residents, and consume staggering amounts of water. The jobs and tax revenue they create aren’t commensurate with the subsidies state governments provide. Even some Republicans have turned against them.
What are investors doing?
They’re pulling out of asset-light cloud companies that “borrow money to build data centers” and taking shelter in AI hardware businesses with strong earnings, cash flow, and limited political exposure.
IREN’s sharp premarket drop, with CoreWeave and Nebius still underwater, is a signal in itself.
The market isn’t trading on “AI is over”; it’s trading on “political approval for AI infrastructure is about to get harder.” Those who depend on policy are getting hammered; those who depend on orders can weather the storm. This selloff is targeting balance sheets, not the narrative.$SPCX $ORCL $SOXL
