Nvidia's stock price rises against the trend, Democratic election victory has not yet shaken AI chip demand.

November 4 — Despite the possibility that Democrats winning the election could push for stricter restrictions on data center construction, Nvidia's stock still rose on Wednesday. Positive earnings announced by major companies in the chip industry indicated that market concerns about delays in data center construction have not yet immediately affected Nvidia and other hardware companies.

Customers are still rushing to stockpile AI hardware, even though it remains uncertain whether there will be suitable locations to install these devices in the future. The defeat of Republican governors in Texas and Ohio in the election means that AI infrastructure construction will face stricter scrutiny.

Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, wrote in a research report: "Increased congressional oversight will not necessarily hinder the AI investment cycle. Comprehensive federal-level restrictions will face constraints from legislative and presidential powers, while state and local regulations still have a greater impact on data center construction timelines and site selection." If Democratic politicians do push for severe measures to restrict AI data center construction, Nvidia will face greater challenges in the future. However, the market is currently more focused on signs that chip demand remains strong after the stock's recent weak performance.