Nasdaq fell 1,422 points, 5.5%, into a correction as the Democrats' midterm sweep put the data center buildout in the crosshairs. Adam Crisafulli of Vital Knowledge says the rout could delay Anthropic

What happened: Stocks fell sharply on Thursday on concerns that a congressional power shift after the midterms could slow construction of data centers that power AI services. Tech and AI-exposed shares were hit hardest. Key numbers: Nasdaq Composite fell 1,285 points, or 5%, in early-afternoon trading. Why it matters: Analysts cited growing headline risks around AI and said the selloff strengthens the view that the AI equity boom is in its final innings. A slower data center buildout could deal a major blow to AI companies pouring billions into the buildout.

Stocks fell sharply on Thursday on concerns that a congressional power shift after the midterms could slow construction of data centers that power AI services. Tech and AI-exposed shares were hit hardest.

Analysts cited growing headline risks around AI and said the selloff strengthens the view that the AI equity boom is in its final innings. A slower data center buildout could deal a major blow to AI companies pouring billions into the buildout.