Democrats won key Texas offices, with Governor-elect Gina Hinojosa proposing a pause on new data center permits and repeal of tax exemptions. Texas holds 27% of planned U.S. data center power capacity, making these proposals a significant risk to companies like CoreWeave, IREN, and Galaxy Digital. Stocks with large Texas operations fell sharply amid concerns about stricter regulations and moratoriums. However, some analysts believe the impact may be limited as projects already underway might continue, and tighter rules could favor well-capitalized developments. Investors should watch legislative actions and company disclosures in the coming months.
The Texas political shift has hit data center-related stocks hard, with IREN down 12.43% and GLXY down 12.06% as of Nov 04, 2026 22:51 WIB on Pluang. GLXY is trading near its 52-week low of $14.59, contrasting sharply with NBIS, which, despite a 6.63% drop, remains well above its 52-week low of $73.87 at $141.59. This shows varied investor confidence across these tech and financial stocks amid regulatory concerns.
AI data center stocks, including Cipher Digital, IREN, and TeraWulf, saw sharp gains after recent selloffs, with Cipher Digital rising 11%. Despite the rebound, Cipher Digital reported a Q3 revenue miss driven by shrinking bitcoin mining income and c...
Cipher Digital's stock fell 5% following a Q3 2026 revenue miss and a significant price target cut from $28 to $11 by Keefe Bruyette amid a sector-wide valuation reset. The company, transitioning from Bitcoin mining to AI hosting, faces challenges in...
