AI CURATED HOT STORY · 11/6/2026
After the U.S. midterm elections, market fears that AI data center expansion will be hindered triggered a historic sell-off in tech stocks. The Nasdaq plunged 5.52% in a single day, its worst performance since April 2025, while the Philadelphia Semiconductor Index plummeted 12.3%, the second-largest daily drop in history. Nvidia fell 9.3%, AMD dropped 17.3%, and memory chip makers SanDisk, Micron, and Western Digital each fell 17-22%. The combined wealth of five tech billionaires, including Elon Musk, shrank by $152.9 billion in one day, and the Nasdaq entered a technical correction, down 11.9% from its peak.
Goldman Sachs estimates that short-term bans could affect about 45% of planned U.S. data center capacity, directly undermining the valuation logic of the AI capital expenditure chain. Debt-financed GPU lessors and memory chip makers suffered the steepest declines, reflecting concerns about highly leveraged AI infrastructure investments. Political risk is being repriced, and the valuation system of the AI hardware supply chain faces restructuring.
The sell-off highlights the AI infrastructure's high sensitivity to the policy environment. If data center expansion slows, the entire AI ecosystem—from chips to cloud services—will be impacted, and investors need to reassess the policy risk premium of the AI sector.
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