The broader rout hit major tech titans, with Elon Musk shedding $79.7 billion and Larry Ellison losing $10.1 billion in the downturn. Market anxiety intensified following U.S. midterm election victories by Democrats who are pushing for halts on new data facilities. Analysts warn that proposed moratoriums tied to power and water constraints could derail nearly a third of projected American computing capacity by 2028.
Key points
Political pressure is mounting as incoming Democratic governors demand an immediate morat…: Political pressure is mounting as incoming Democratic governors demand an immediate moratorium on data centre construction over resource strains.
UBS analysts warn that construction pauses could jeopardize approximately 30% of anticipa…: UBS analysts warn that construction pauses could jeopardize approximately 30% of anticipated U.S. data centre capacity additions for 2028.
Mounting investor anxiety regarding the surging costs of artificial intelligence infrastr…: Mounting investor anxiety regarding the surging costs of artificial intelligence infrastructure is heavily depressing valuations across the semiconductor sector.
Sources checked by our analysis pipeline: 1
Nvidia CEO Jensen Huang lost his place in the world’s top 15 richest billionaires. According to Bloomberg, the tech billionaire lost nearly $15.1 billion in a day after the company’s stocks tumbled following Democrats’ sweeping victories in the midterm election. The loss dropped him to 13th from ninth on the Bloomberg Billionaires Index. Other billionaires whose wealth declined were Tesla CEO
Elon Musk and Oracle founder Larry Ellison, who lost $79.7 billion and $10.1 billion, respectively.
$2.5 trillion wiped off Nasdaq in one day
The decline comes after the Nasdaq 100 index erased $2.5 trillion in market value in a single day on November 5 as Nvidia and other major technology companies suffered steep losses amid growing fears over the future of artificial intelligence (AI) infrastructure spending in the US. The tech-heavy Nasdaq Composite plunged 5.5% on Thursday, marking its biggest one-day drop since the market sell-off triggered by US President Donald Trump’s “Liberation Day” tariffs in April 2025.
The fall hit major tech companies include Nvidia and AMD whose shares dropped by 9% and 17% during Thursday’s trading session.…
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