Data center stocks slide on expectations of slower AI construction

Published Wednesday, November 4, 2026 · 7:12 PM EST

Data center shares fell Wednesday as investors anticipated slower AI construction after Democrats won Congress, Reuters reported. Hut 8 dropped 23%, IREN 11%, Core Scientific 10% and Applied Digital 7%. The losses contrasted with a sharply higher Wall Street close as the election result eased political uncertainty.

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