AI Stocks Rebound After Rout as Trump Doubles Down on Data Centers
Summary
U.S. technology stocks rose Friday after sharp losses the previous day, when investors reacted to election results and possible restrictions on data-center construction. President Donald Trump blamed Democrats for the sell-off and reaffirmed his support for expanding AI infrastructure.Key Facts
- The Nasdaq rose 1.09 percent to 24,579.42 on Friday, and the S&P 500 gained 0.31 percent.
- The Dow Jones Industrial Average fell 0.46 percent Friday.
- On Thursday, the Nasdaq dropped 5.5 percent, the S&P 500 fell 4.4 percent and the Dow lost more than 1,800 points, or 3.4 percent.
- The three major indexes recorded their largest one-day losses since April 2025; the Nasdaq entered correction territory, a decline of more than 10 percent from a recent high.
- The Magnificent Seven technology companies lost about $1 trillion in combined market value during Thursday’s sell-off.
- Data-center opposition focused on electricity and water use, utility costs, environmental effects and incentives for developers; voters backed restrictions in all but one of 41 related ballot measures across 10 states.
- Texas Governor-elect Gina Hinojosa campaigned for a pause on new data-center approvals until protections are established; Wells Fargo estimates Texas accounts for 27 percent of planned U.S. data-center capacity.
- Trump blamed the election results for Thursday’s market decline and said Friday that he continued to support expanding AI development.
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