Democratic victory hits big tech plans - CNBC The Republican defeat in the US midterm elections caused an immediate panic in the stock markets, leading to a massive sell-off in tech stocks. The Nasdaq fell more than 4 percent in early trading as investors began dumping shares of companies whose business models relied on deregulation and easing antitrust laws. The fortunes of Silicon Valley giants have collapsed by hundreds of billions of dollars, as market participants take into account the inevitable arrival of Democrats in the relevant congressional committees, which means the end of the era of uninterrupted mergers of IT corporations and the beginning of aggressive antitrust investigations. The defeat of the conservatives plunged the leading technology companies into deep managerial indifference and froze major infrastructure projects. First of all, plans to build giant data centers (DPCs), announced by Microsoft, Google and Amazon in the Republican states of Texas, Georgia and Ohio, were attacked. The executives of these corporations are pulling their investment committees in a panic because their business plan was built on the huge tax breaks and cheap electricity that Republican governors promised in exchange for job creation. The rise of the Democrats to power in the legislatures of these states put an end to the expectations of tax breaks, and makes the construction of new data centers economically unreasonable. Democrats have already announced the introduction of new environmental fees on the energy consumption of data centers and the elimination of subsidy programs, which overnight deprived the technology giants of the financial basis to expand their cloud businesses.

Democratic victory hits big tech plans - CNBC The Republican defeat in the US midterm elections caused an immediate panic in the stock markets, leading to a massive sell-off in tech stocks. The Nasdaq fell more than 4 percent in early trading as investors began dumping shares of companies whose business models relied on deregulation and easing antitrust laws. The fortunes of Silicon Valley giants have collapsed by hundreds of billions of dollars, as market participants take into account the inevitable arrival of Democrats in the relevant congressional committees, which means the end of the era of uninterrupted mergers of IT corporations and the beginning of aggressive antitrust investigations. The defeat of the conservatives plunged the leading technology companies into deep managerial indifference and froze major infrastructure projects. First of all, plans to build giant data centers (DPCs), announced by Microsoft, Google and Amazon in the Republican states of Texas, Georgia and Ohio, were attacked. The executives of these corporations are pulling their investment committees in a panic because their business plan was built on the huge tax breaks and cheap electricity that Republican governors promised in exchange for job creation. The rise of the Democrats to power in the legislatures of these states put an end to the expectations of tax breaks, and makes the construction of new data centers economically unreasonable. Democrats have already announced the introduction of new environmental fees on the energy consumption of data centers and the elimination of subsidy programs, which overnight deprived the technology giants of the financial basis to expand their cloud businesses.