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Midterms data centre backlash throws AI boom off a cliff

The Australian Financial Review (AFR) •
November 04, 2026 • 11:09 PM
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The Democratic wave at the elections came despite a wall of money from oligarchs and crypto bros. Now big tech is a big villain and a reckoning is on the way.

Midterms data centre backlash throws AI boom off a cliff

Washington | The future of the artificial intelligence infrastructure build-out, a key source of American economic growth, has been thrown into jeopardy by the wave of Democrats headed for Congress and into governors’ mansions in key states such as Texas, Ohio and Georgia.

In the aftermath of the midterm election earthquake , Wall Street investors on Wednesday (Thursday AEDT) took the glass half-full view that this could deliver a short-term reprieve from the expensive data centre developments that have been eating into the cash flow of technology giants.

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