Delphi Digital
Delphi Digital|Nov 06, 2026 14:29
Power costs have turned the AI build into a political fight. Data centers used about 4.4% of US electricity in 2023 and could need close to 12% by 2030. Keeping up means new plants and transmission lines that households help pay for through their power bills while the profit stays with the tech companies. Households have been pushing back for more than a year, starting in 2025 when New Jersey and Virginia elected governors who campaigned on electricity costs. We flagged this in October as one of the signals to watch for the AI build. This week the pushback reached the midterms. Voters sided against data centers in nearly every local ballot measure and elected governors who mostly back tighter rules on them. The Philadelphia chip index fell 12% two days later as markets sold off the biggest construction story they’ve had in decades. Voters now help decide who pays for AI’s power and how fast the build can move.
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