Bay Area AI stocks plunge after data center voter backlash

San Francisco Chronicle · Roland Li · 2026-11-05 19:59 UTC

It was on pace for the worst day of trading since April 2025, when widespread tariffs were announced.

Bay Area artificial intelligence companies saw major stock losses Thursday after voters around the country supported restricting and regulating data centers amid massive Democratic victories.

Nvidia, the world’s most valuable company, fell over 9% at the end of trading, wiping out roughly $400 billion in market capitalization. Rival chip makers AMD was down over 17% and Broadcom fell more than 10%, while data storage firm SanDisk plunged over 22%.

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