Nvidia Shares Fall 1.5% as US State-Level Election Results Threaten Data Center Projects

Nvidia shares dropped roughly 1.5% alongside a broader semiconductor decline as Democratic victories in US midterm elections raised concerns over data center construction. The downturn reversed an earlier 2.29% gain. In Texas, which holds 25% to 27% of planned US data center capacity, incoming governor Gina Hinojosa pledged a moratorium on new projects. Meanwhile, Nvidia's planned $105 billion, 10-gigawatt Ohio facility faces potential regulatory delays. Goldman Sachs warned that state and local moratoriums could impact about 45% of planned US data center expansions, putting pressure on GPU deployment timelines.