AI stocks hammered by midterm shock as data center buildout becomes a 'war of attrition'
CNBC · Kai Nicol-Schwarz ·
The election rout landed on an AI trade already under pressure from high interest rates, heavy capital spending and questions about returns.
The Democrats' stunning rout of the Republicans during the midterms this week wasn't just a stinging rebuke of President Donald Trump, but also a potential roadblock to huge plans to build artificial intelligence data centers across the country.
Since the landmark results came in, tech and AI stocks have been jolted by market volatility.
The most valuable tech companies in the U.S. and Europe were hit with a massive sell-off on Thursday as investors got nervous.