Goldman Sachs warns Democratic successes in state and local elections could lead to temporary construction moratoria hitting 45% of planned US data center capacity, with Texas alone representing approximately 25% of planned additions.

Democratic state Rep. Gina Hinojosa ran on a pledge to halt new permits until legislators set up safeguards for power, water and local communities, a stance Jefferies estimates puts 13.3 GW of announced projects in Texas at risk.