WHAT YOU NEED TO KNOW
  • Hassett expects data center growth to continue despite voters approving restrictions in at least 46 of roughly 50 ballot initiatives.
  • He said scheduled projects remain unaffected and future expansion can move toward states with more welcoming governors.
  • Hassett linked Thursday’s technology market plunge to political uncertainty but remained optimistic about broader economic strength.
  • Trump reaffirmed his support for artificial intelligence and data centers, calling himself 100% in favor of Super Intelligence.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.

National Economic Council Director Kevin Hassett said Friday that he expects data center growth to continue along its projected path despite a blue wave election in which voters overwhelmingly supported limits on the infrastructure buildout. His message was that local opposition will not halt broader expansion tied to artificial intelligence.

Hassett addressed the issue on CNBC’s “Squawk on the Street,” acknowledging dozens of measures on state midterm ballots that sought to constrain data centers. The facilities are a crucial part of President Donald Trump’s effort to win the global artificial intelligence race.

In at least 46 of roughly 50 initiatives appearing on ballots in 2026, majorities voted to restrict development of the facilities, according to Ballotpedia’s tally. The results showed widespread voter resistance, but Hassett maintained that the expected expansion can continue elsewhere.

“We respect the localities that decide that’s what they want to do,” Hassett said. “But America is a big place, and right now, the data centers scheduled over the next couple of years aren’t affected by these ballot initiatives.”

His comments separated projects already scheduled over the next several years from development that would come later. Hassett argued that the country has enough available room for the industry to preserve its projected growth after the election.

“And the stuff after that, you know, there’s plenty of room in the U.S. for data center growth to continue, as it was projected ahead of the election,” he said. That view suggests states opposing the facilities will not determine the national trajectory.

Hassett said expansion could shift toward states led by governors who are more welcoming to data center development. He also suggested that states now hostile to the facilities could eventually reconsider their approach as the benefits become clearer.

“That’s exactly what’s going to happen,” he said. “That, or what’ll happen will be that the benefits of the data centers will be so obvious that people decide to change their minds about the way they regulate them.”

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The election results also collided with financial markets. Hassett blamed Thursday’s technology driven market plunge on “uncertainty about what the political change is going to mean for data centers going forward.”

“We’ve now got a ... new majority that maybe is going to go in there and muddle around in there, and I think that markets are anxious about that,” he said. His comments connected investor unease directly to uncertainty surrounding future data center policy.

Even so, Hassett argued that slower data center growth would not erase the broader economic strength he sees. He said an industry expanding rapidly could lose some momentum while the economy still delivers powerful results.

“But I think that the economic strength that we see everywhere else is so strong, and of course, in the end, you could take something that’s growing as fast as the data centers and make it grow a little bit slower, and you still have a blockbuster economy.”

Hassett closed his market assessment on an upbeat note. “And so, I think we’re still very, very optimistic about what’s going to happen going forward,” he said.

The CNBC Voter Poll found that 56% of midterm voters regarded data centers as either a crucial or major issue. Among voters who considered the issue crucial, 62% supported the generic Democratic candidate.

Trump has strongly embraced artificial intelligence and data centers despite their apparent unpopularity with voters. He has also sought to recast the technology under the name “super intelligence,” or SI.

In a Truth Social post Friday, Trump made clear that the midterm losses had not weakened his support for the emerging industry. “As President, I am 100% in favor of Super Intelligence (SI), and will work with the many States in the U.S. that want to become RICH by having them,” Trump wrote.

“They are GOLD, and only foolish leadership will say ‘NO’ to the riches they bring!” Trump added. His declaration reinforced the administration’s continued backing for data center development even after voters approved restrictions across most of the initiatives tracked by Ballotpedia.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.