Shares of data center builders and equipment suppliers fell sharply on Wednesday after Democrats won control of Congress: Modine dropped about 24%, Sterling about 19%, Comfort Systems about 16%, while Vertiv and GE Vernova each fell roughly 11% to 12%, as the S&P 500 rose about 2%. The biggest shock came from Texas, where Democrat Gina Hinojosa defeated Republican Gov. Greg Abbott after campaigning for a moratorium on new data centers; Texas holds about 27% of planned U.S. data center capacity, according to Wells Fargo. Goldman Sachs expects Democratic governors in Texas, Georgia and Michigan to impose conditional moratoria, and states likely to add restrictions account for 45% of planned capacity. Still, backlogs kept rising, with GE Vernova's reaching $197 billion and Comfort Systems' hitting $17.8 billion. The article also flags that Modine's data center gross margin fell 4.7 percentage points to 19.7%.
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data centersmidterm electionsNVDAregulationTexas
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NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/03/2026 | 206.57 |
| Change that session | +2.23% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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