Election Shock on Wall Street: Why Light, Chips, and Concrete Remain the AI Winners!

The midterm elections in the USA have shaken up the AI trade significantly. After the clear gains by the Democrats, investors fear that new majorities could slow down the construction of data centers, possibly through stricter permits or even a moratorium. Last Wednesday, this prompted shares of the cloud provider Nebius to drop nearly 9%, and those of memory chip manufacturer Micron by almost 7%. However, the quarterly results of the evening show: The hunger for computing power remains unbroken. The real bottleneck is not politics, but power supply....