Major technology companies surged on Wednesday after Democrats’ victory in the midterm elections removed some uncertainty from the market. Amazon gained 8 %, Alphabet rose 6 %, Microsoft advanced 4 %, Meta gained 3 % and Apple climbed nearly 7 %, while the divided government was presented as a factor moderating growth and inflation. Tesla fell 2 %, SpaceX lost 3 % and Nvidia slipped just over 1 %, while CoreWeave dropped 10 %. Voters rejected restrictions on data centers in 40 of 41 local measures, raising concerns among smaller AI-focused cloud providers. Large hyperscalers, with substantial capital and the ability to build data centers, could benefit from higher regulatory barriers, although a nationwide slowdown in construction has not been confirmed.
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