In an interview with WSJ editor-in-chief Emma Tucker, Dina Powell McCormick of Meta said the industry has not done enough to explain the benefits of data center investments, and that Meta is going well beyond its original commitments. Meta has been building data centers for 20 years and operates in 23 states, with five of them hosting gigawatt-scale projects, including Texas. She said a newly elected governor who campaigned on data centers had asked to meet after the inauguration because the state did not want to lose the investment or the jobs. She added that the work has been hard, that models that work are becoming clear, and that states want those models, but local support is necessary.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.6T |
| Close on 11/04/2026 | 629.89 |
| Change that session | +1.43% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Data Center Stocks Just Plunged After the Midterms. Is It Time to Buy the Dip?
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%.
- Texas Goes Blue: What Gina Hinojosa's Win Means For AI Data Centers And Stocks Like MSFT, AMZN, GOOGL, CRWV
Gina Hinojosa won Texas's governor race, becoming the first Democrat to hold the office in more than 30 years and defeating Republican Greg Abbott, while Democrat James Talarico won the state's Senate seat. Hinojosa has been critical of the rapid buildout of AI data centers and in July proposed a temporary statewide pause on new ones until lawmakers adopt protections, such as requiring data centers to pay for transmission infrastructure. Investors fear this could slow data center construction and constrain AI computing capacity, and cloud-related stocks fell as results came in, with Oracle down 2.3%, CoreWeave down 3.3%, Iren down 4.3%, and Amazon, Microsoft and Alphabet down 0.4% to 1%. Some commentators argue the concern is overblown or already priced in, while trading firm Liquid noted Iren and Galaxy Digital have substantial Texas exposure.
- What Could Surprise Vistra Stock Investors On The Upside?
Vistra (VST) shares fell 28.4% over the past year, while the S&P 500 returned 17.4%, even as the power producer keeps signing long-term deals to supply electricity from existing plants to large users such as Meta and a Texas data center project. Management says these customers will pay a premium over market prices because existing capacity still costs less than new construction, and it expects the Meta premium plus the pending Cogentrix purchase to add roughly $700 million of adjusted EBITDA. That gain is excluded from the 2027 guidance of $7.4 billion to $7.8 billion; added to the midpoint it would lift 2027 by about 9%, though part of that comes from the Cogentrix acquisition rather than the contracts. Meanwhile, forward power prices in ERCOT, the Texas market, are meaningfully lower than the October 31, 2025 prices its 2027 range was built on, so management expects 2027 to trend toward the lower end of the range. An updated 2027 adjusted EBITDA range is due with the third-quarter report, expected around November 6, 2026.
- Elon Musk Has A Lot Riding On Texas
- Texas shed thousands of jobs in September , lowering 2026 growth forecast
- Texas employment growth drops below long - term average as 19 , 000 jobs shed : Dallas Fed
The Dallas Fed's Texas Employment Forecast shows job growth slowed as Texas lost 18,900 jobs in September while 15,800 people joined the workforce. Year-to-date job growth stood at 0.8 percent, well below the state's long-running average of 2 percent, with government and construction posting the largest declines and manufacturing a bright spot linked to oil and gas and AI. The Dallas Fed lowered its 2026 forecast to 0.9 percent growth, while the unemployment rate held at 4.4%. Governor Greg Abbott pointed to 154,300 non-farm jobs added over the past year, 0.8 percentage points above the national rate.
Related markets
Latest news
- Gold extends rally above $4,100 as dollar, Treasury yields fall after U.S. vote
Gold held above $4,100 an ounce on Thursday after a Democratic sweep of the U.S. midterm elections pushed the dollar and Treasury yields lower, while Trump downplayed the prospect of renewed strikes on Iran. Spot gold rose 1.8% to $4,132.36 an ounce, silver gained 2.1% to $53.3400, and the U.S. Dollar Index fell 0.3% to 101.31. ANZ analysts said U.S. bonds benefited from expectations that the new political balance would constrain Trump's proposed tax cuts and spending plans, but warned that weaker government borrowing could erode a key support for gold. Oil stayed sharply lower after Brent fell below $100 a barrel on Wednesday. Gold is still more than 20% below its levels before the U.S.-Iran war broke out in late February, and investors are now watching Friday's U.S. nonfarm payrolls report.
- Dow Jones Futures Rise, Techs Fall; Apple, Microsoft, Amazon Flash Buy Signals In Postelection Rally
According to the article, elections and plunging oil prices sparked a stock market surge. Stocks from many sectors flashed buy signals, while one area was flagged as one to avoid, without being named in the excerpt.
- ACB Fund Management Company Limited ("ACBC") announces public offering of ACBC-BOND fund certificates
ACBC is offering to the public (IPO) certificates of the ACBC Bond Fund (ACBC-BOND), an open-ended fund, from 06/11/2026 to 15/01/2027. The offering may close early if total subscriptions reach at least 50 billion VND and at least 100 investors, excluding professional securities investors, subscribe; each investor's subscription period must be at least 20 days. Fund certificates have a par value and offer price of 10,000 VND each, with no cap on the number offered, a minimum offering of 5,000,000 certificates, and a minimum subscription of 100 certificates (equivalent to 1 million VND). Distributors are ACB Fund Management, ACB Securities and Fincorp, and any early closing will be announced at least 3 working days in advance on the company's website.
- Has Alphabet (GOOGL) Fallen Far Enough To Back Its Cash Flow Value?
Alphabet's share price has fallen after a difficult stretch marked by heavy AI spending, negative free cash flow and concern over AI capital expenditure following its Q3 2026 update, which wiped nearly $500b off market value in one day. The article uses a discounted cash flow (DCF) model based on about $66.6b of free cash flow over the last twelve months; the model projects negative free cash flow in 2027 before a recovery later in the decade as AI infrastructure spending settles into a more cash-generative phase. On that basis, the DCF puts intrinsic value substantially above the current share price of $288.93. The stock trades at a 15.1x P/E and has returned 121.2% over the past 3 years. The piece asks whether the recent decline has fully reset expectations for Alphabet's cash generation.
- China's gold demand shifts from jewelry to investment gold
According to the China Gold Association, jewelry gold consumption fell 33.86% to 178.612 tonnes in the first nine months of 2026, while bar and coin demand rose 26.26% to 444.576 tonnes. Total gold consumption for the period reached 684.623 tonnes, up 0.28% year on year, reflecting a shift in Chinese consumers' view of gold as an investment and store of value. Domestic gold output fell 18.71% to 220.935 tonnes, partly due to maintenance pauses at some key projects, while overseas mining by major gold groups rose 15.77% to 71.126 tonnes. Gold held by China's gold ETFs increased by 56.114 tonnes over the nine months, down 28.98% from a year earlier, bringing total holdings to 303.965 tonnes at the end of September 2026.
- Quốc Cường Gia Lai to pay 2021 dividend in shares at 10% ratio
Quốc Cường Gia Lai plans to issue more than 27.5 million shares to pay its 2021 dividend at a 10:1 rights ratio, with total par value of over 275 billion VND, funded from undistributed after-tax profits accumulated to December 31, 2025. If completed, charter capital would rise from over 2,751 billion VND to over 3,026 billion VND. In Q3 2026, net revenue fell 75.9% to nearly 26.8 billion VND and the company posted a net loss of nearly 7 billion VND, versus a profit of nearly 24.1 billion VND a year earlier, which it attributed to fewer apartment handovers and the transfer of hydropower plants. For the first nine months, after-tax profit reached over 174.7 billion VND, 5.1 times the prior-year level, even as net revenue dropped 69.6%. The company must repay 2,882.8 billion VND received under the Bac Phuoc Kien project contract under an appellate ruling; as of September 30, 2026, it had repaid 1,411.4 billion VND cumulatively, leaving 1,471.4 billion VND owed to Sunny Island Investment JSC.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.