AI-linked stocks fall as Nasdaq drops in midday trading

U.S. technology shares fell on Thursday as chipmakers and companies tied to data-center construction declined, with investors weighing whether Democrats’ midterm gains could bring tighter oversight of artificial intelligence infrastructure. The Nasdaq Composite was down about 4.8% in midday trading, after falling 0.77% at the opening bell. The S&P 500 and Dow Jones Industrial Average also fell in midday trading. AI-linked shares had helped lift markets earlier in the week, but were among the weakest stocks as Thursday’s losses broadened. Nvidia fell 8.2% by midday, while Micron declined nearly 14%, Intel fell 6.8% and Dell dropped nearly 13%. Data-center operators CoreWeave and Nebius Group were down more than 12% and nearly 17%, respectively. These moves were reported at different points in the session and are not directly comparable with the opening figures. The election results prompted investor concern about possible federal and state restrictions on AI development and data-center construction. That concern is an interpretation of the market moves, and the reporting did not quantify how much it contributed to the declines. The new congressional majority had not yet taken...