TEXAS GOVERNOR - ELECT WANTS DATA CENTER PAUSE ; WHITE HOUSE SAYS COMMUNITIE SHOULD DECIDE

What happened: Texas Governor-elect Gina Hinojosa said the state needs new data center laws and should pause building until they exist. The White House's Kevin Hassett said there is room for growth and that communities should decide. Key numbers: Nasdaq fell more than 5% by midday Thursday; Morgan Stanley neocloud index dropped 12%; Why it matters: Hassett's comment marks a turn for an administration that treated data centers as a national priority, conceding the local-consent principle Hinojosa campaigned on. Investors sold AI-linked stocks on fears Democratic wins bring moratoriums. Coverage: 3 outlets in 24h

Texas Governor-elect Gina Hinojosa said the state needs new data center laws and should pause building until they exist. The White House's Kevin Hassett said there is room for growth and that communities should decide.

Hassett's comment marks a turn for an administration that treated data centers as a national priority, conceding the local-consent principle Hinojosa campaigned on. Investors sold AI-linked stocks on fears Democratic wins bring moratoriums.