Nasdaq Plunges as Data Center Buildouts Hit Roadblocks; OpenAI and Meta Scramble to Counter Policy Fallout

The Nasdaq plummeted 5.1% on Thursday into correction territory as at least 46 of 50 data center-related ballot measures were rejected in US elections, triggering market fears of a slowdown in AI compute expansion. OpenAI hastily unveiled a "National Community Compact," pledging to curtail loads during peak power demand, disclose environmental data on water, power, and noise, and ensure residential electricity rates are unaffected. Meanwhile, Meta disclosed that due to significantly mounting construction hurdles, major hyperscalers have begun evaluating shifting compute investments outside the United States.