Big Tech Rallies After Midterms

It's Benzinga, bringing Wall Street to Main Street. Major technology stocks surged Wednesday after Democrats flipped both the House and Senate in the midterm elections, according to CNBC. Amazon gained 8%, Google rose more than 6%, and Apple climbed nearly 7%. Tesla fell 2%, SpaceX dropped 3%, and AI chipmaker NVIDIA slipped just over 1%. JPMorgan asset management strategist David Kelly said the election results reduced market uncertainty. However, AI infrastructure stocks faced pressure after voters opposed data center development in 40 of 41 local ballot measures. NVIDIA slipped more than 1%, while smaller AI cloud provider CoreWeave fell 10%. Analysts warned that new regulations could delay projects and raise costs. Needham analyst Laura Martin said higher regulatory barriers could benefit large cloud providers with established AI infrastructure. For all things money, visit Benzinga.com.