Democrats’ Midterm Wins Threaten to Slow the AI Data Center Boom

Democrats’ Wins Threaten AI Trade and Data Center Boom Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. The headiness of the AI boom has run into electoral reality, as the US midterms delivered wins for Democrat candidates who pushed back against the rapid expansion of data centers. The outcome is set to create fresh obstacles for an industry racing to secure the land, power and permits needed for the buildout, and delivers a rebuke to the technology titans who went all-in on Donald Trump. The results reverberated through the market, with shares in Elon Musk’s Tesla and SpaceX taking an early hit after the billionaire’s expensive bet on the Republicans failed to pay off. The results add a political dimension to an ongoing Wall Street debate. Is AI a boon or a bubble, windfall or pratfall, a zero or a 1? As the warring headlines can attest this week, it’s actually not so simple. Financial chiefs are divided, sometimes among each other and sometimes even within their own minds as they try to gauge whether the promised benefits will arrive as big and as soon as promised.