IREN fell 5% to $23.33, CoreWeave dropped 4% to $51.73, and Nebius dipped 2% to $147.92, while the Invesco QQQ Trust rose 1.88%. The selloff followed Democrat Gina Hinojosa's defeat of Gov. Greg Abbott in the Texas governor's race, after she campaigned for tougher limits on new data centers, including an immediate moratorium. Wells Fargo estimates Texas holds 27% of planned U.S. data center gigawatts, versus 7% for Georgia and 5% each for Pennsylvania and Ohio. Over the past month, IREN fell 44%, CoreWeave 42% and Nebius 38%, after a Gartner report predicted that 80% of neocloud companies would end operations by 2030.
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Keywords
CoreWeavedata centersmidterm electionsNVDA
Open a keyword to see other news on the same topic.
Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/03/2026 | 206.57 |
| Change that session | +2.23% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/03/2026 | 685.34 |
| Change that session | +0.62% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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