Texas, Ohio and Georgia elected governors who campaigned on pausing or limiting new data centers. Microsoft’s shares rose 6.7% and Amazon’s 6.1%. Companies that build, power or equip new ones fell: power producer Vistra 13.8%, AI cloud CoreWeave 9.9%, turbine maker GE Vernova 9.3%, memory-chip maker Micron 7.0%.
JPMorgan’s James Sullivan says “existing capacity is significantly more valuable now.” Much of what is due in 2027 is already being built; Nomura says the bigger impact “may hit from 2028.” Permits and power, not just money, now set the pace.
Strategist is built to put an independent strategy beside management’s, so a plan that assumes the old pace stands out.
Which pace is your plan built for? strategist.intelligenxe.com
