00:00It's Benzinga bringing Wall Street to Main Street.
00:02Major technology stocks surged Wednesday after Democrats flipped both the House and Senate in
00:08the midterm elections, according to CNBC. Amazon gained 8%, Google rose more than 6%,
00:15and Apple climbed nearly 7%. Tesla fell 2%, SpaceX dropped 3%, and AI chipmaker NVIDIA slipped just
00:24over 1%. JPMorgan asset management strategist David Kelly said the election results reduced
00:30market uncertainty. However, AI infrastructure stocks faced pressure after voters opposed
00:36data center development in 40 of 41 local ballot measures. NVIDIA slipped more than 1%,
00:42while smaller AI cloud provider CoreWeave fell 10%. Analysts warned that new regulations could
00:49delay projects and raise costs. Needham analyst Laura Martin said higher regulatory barriers
00:55could benefit large cloud providers with established AI infrastructure.
00:58For all things money, visit Benzinga.com.
