The midterms produced a "blue wave" — and with it AI-regulation risk. Democrats took both chambers by wider margins than expected. Goldman Sachs called the result a "blue tsunami" and flagged that state- and local-level Democratic wins would materially affect AI and data-centre regulation, with negative read-through for some utilities and independent power producers
What would actually decide it: the next earnings print and whether long-term supply contracts convert cycle-level margins into contracted revenue — that's the debate the market is having right now.
Alphabet's Q3 EPS of $2.12 badly missed the $3.02 consensus and revenue fell short, reviving AI-spending worries and sending shares down; Microsoft's solid cloud sales lifted its shares after hours