OpenAI, Arm and Qualcomm executives react to post-midterm AI sell-off
Image: CNBC
As a post-midterm rally Wednesday turned into a steep sell-off Thursday, tech executives sought to look through the notion that potential data center constraints could be catastrophic for their businesses.
In response to a Democratic sweep of Congress as well as a sizeable number of state governorships and legislatures in the midterm election Tuesday night, stocks initially rallied Wednesday, posting their best day in more than 18 months as President Trump accepted the blowout results with little fanfare.
The tide quickly turned Thursday, however, with stocks selling off sharply as investors feared a potential slowdown in the data center build-out after wins by candidates in favor of data center regulation in states like Texas and the possibility that the artificial intelligence trade may be past its peak.
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