Nvidia, Micron, and other AI stocks take a dive after elections

Some air was let out of the AI bubble this morning as tech stocks took a dive. After seeing gains on Wednesday, the S&P 500—the index which tracks big companies including Nvidia , Oracle, and other bettors on the AI buildout—has dropped by around 3.9% as of 2:30 pm EST. Nvidia shares are now trading lower than they were at the start of the year. Memory and storage company Micron is down about 15%. Democratic victories in the US midterms, and country-wide votes to curb data center expansion , have contributed to the reduced confidence in AI stocks.