Chip stocks slip as Democrats' election sweep clouds the outlook for data centers
Published . Updated .
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Democrats' wins in Texas and other states raise questions about the AI buildout, while shares of Amazon and Microsoft rose
Directly affected
Indirectly affected
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story.
- AIQ Global X Artificial Intelligence & Technology ETF-0.1% 17d
Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story.
- SMH VanEck Semiconductor ETF-16.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- GOOGL Alphabet-17.2% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story.
- META Meta Platforms-16.6% 30d
Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story.
- NVDA Nvidia-8.4% 30d
Nvidia (semiconductors and related devices): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story.
- AVGO Broadcom-6.5% 30d
Broadcom (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- ASML ASML Holding N.V-0.8% 16d
ASML Holding N.V (special industry machinery): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| AMZN | +1.58% | -4.14% | base | +6.36% | after close | after close | after close |
| MSFT | +2.19% | +0.22% | base | +6.13% | after close | after close | after close |
| QQQ | +5.88% | +0.76% | base | +1.20% | after close | after close | after close |
| AIQ | +8.17% | +0.96% | base | +1.01% | after close | after close | after close |
| SMH | +9.58% | +0.86% | base | -2.62% | after close | after close | after close |
| GOOGL | +16.24% | -0.00% | base | +4.19% | after close | after close | after close |
| META | -1.33% | -0.97% | base | +1.57% | after close | after close | after close |
| NVDA | +4.25% | -0.87% | base | -1.66% | after close | after close | after close |
| AVGO | +5.97% | -1.78% | base | -2.16% | after close | after close | after close |
| ASML | +7.25% | +0.88% | base | -3.35% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Chip stocks slip as Democrats' election sweep clouds the outlook for data centers qz.com
Source: qz.com
Price since this story was published: Invesco Qqq Trust, Series 1 (QQQ)
| Company | When | Move | Status |
|---|---|---|---|
| Global X Fds (AIQ) | that day | +1.01% | still updating |
| Global X Fds (AIQ) | three days earlier | +0.96% | final price |
| Global X Fds (AIQ) | five days earlier | +8.17% | final price |
| Amazon Com (AMZN) | that day | +6.36% | still updating |
| Amazon Com (AMZN) | three days earlier | -4.14% | final price |
| Amazon Com (AMZN) | five days earlier | +1.58% | final price |
| ASML | that day | -3.35% | still updating |
| ASML | three days earlier | +0.88% | final price |
| ASML | five days earlier | +7.25% | final price |
| Broadcom (AVGO) | that day | -2.16% | still updating |
| Broadcom (AVGO) | three days earlier | -1.78% | final price |
| Broadcom (AVGO) | five days earlier | +5.97% | final price |
| Alphabet (GOOGL) | that day | +4.19% | still updating |
| Alphabet (GOOGL) | three days earlier | -0.00% | final price |
| Alphabet (GOOGL) | five days earlier | +16.24% | final price |
| Meta Platforms (META) | that day | +1.57% | still updating |
| Meta Platforms (META) | three days earlier | -0.97% | final price |
| Meta Platforms (META) | five days earlier | -1.33% | final price |
| Microsoft (MSFT) | that day | +6.13% | still updating |
| Microsoft (MSFT) | three days earlier | +0.22% | final price |
| Microsoft (MSFT) | five days earlier | +2.19% | final price |
| NVDA | that day | -1.66% | still updating |
| NVDA | three days earlier | -0.87% | final price |
| NVDA | five days earlier | +4.25% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | that day | +1.20% | still updating |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | +0.76% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | +5.88% | final price |
| Vaneck Etf Trust (SMH) | that day | -2.62% | still updating |
| Vaneck Etf Trust (SMH) | three days earlier | +0.86% | final price |
| Vaneck Etf Trust (SMH) | five days earlier | +9.58% | final price |
Congressional trades in the stocks in this story
- Rep. Pete Sessions sold Amazon Com (AMZN), worth $15,001 - $50,000 on 27 Oct 2026. That is 8 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN) (held by a spouse), worth $100,001 - $250,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Amazon Com (AMZN) (held by a spouse), worth $1,001 - $15,000 on 28 Aug 2026. That is 68 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 35 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 37 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 51 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 69 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Maria Elvira Salazar sold Meta Platforms (META), worth $1,001 - $15,000 on 24 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Meta Platforms (META) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 42 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Meta Platforms (META), worth $1,001 - $15,000 on 22 Sep 2026. That is 43 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Companies in semiconductors around Invesco Qqq Trust, Series 1 (QQQ)
Companies tied to this story
- QQQ Invesco Qqq Trust, Series 1
In “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
- AIQ Global X Fds
In “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Global X Fds (AIQ) is linked, with no stored direction, medium confidence. Reason on file: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
- SMH Vaneck Etf Trust
In “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Vaneck Etf Trust (SMH) is linked, with no stored direction, medium confidence. Reason on file: VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story
- GOOGL Alphabet
For “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Alphabet (GOOGL) is linked, with no stored direction, medium confidence. Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- MSFT Microsoft
For “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Microsoft (MSFT) is linked, with no stored direction, medium confidence. Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- META Meta Platforms
In “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers,” Meta Platforms (META) is linked, with no stored direction, medium confidence. Reason on file: Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- AMZN Amazon Com
Amazon Com (AMZN) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers.” Reason on file: Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- AVGO Broadcom
Broadcom (AVGO) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers.” Reason on file: Broadcom (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story
Invesco Qqq Trust, Series 1 (QQQ) and the semiconductors link
On 4 Nov 2026, “Chip stocks slip as Democrats' election sweep clouds the outlook for data centers” is the story that connects Invesco Qqq Trust, Series 1 (QQQ) to Semiconductors.
The link for Invesco Qqq Trust, Series 1 (QQQ) is this: Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
Also listed, Global X Fds (AIQ): Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
What this semiconductors story puts on the calendar
AIQ traded between 61.70 and 67.40 across 14 sessions. The latest close on file is 62.94. QQQ traded between 680.34 and 757.18 across 20 sessions. The latest close on file is 685.32. SMH traded between 506.51 and 639.33 across 20 sessions. The latest close on file is 508.07.
How strong the case is around Invesco Qqq Trust, Series 1 (QQQ)
46 out of 100Price not final
“Chip stocks slip as Democrats' election sweep clouds the outlook for data centers” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.