Dan Ives Says Microsoft Amazon and Meta Win Big as Data Center Slowdown Looms Nauman Khan Tue, November 10, 2026 at 9:56 AM EST 1 min read SPCX +0.08% META +0.51% AMZN +0.75% TSLA -0.54% MSFT -0.53% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Dan Ives of Yorkville Ives said a potential slowdown in U.S. data center construction could favor major cloud providers with operating capacity, according to a Monday research note.
He cited midterm election results and Texas governor Gina Hinojosa's approach to data center development, where SpaceX (NASDAQ:SPCX) and Tesla (NASDAQ:TSLA) have large operations.
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Ives estimated that 10% to 30% of planned U.S. data centers may not be built over the next 18 months under a "Blue Wave" scenario. He said firms with available gigawatts and GPUs could become more valuable. The note named Microsoft (MSFT), Amazon (NASDAQ:AMZN), Alphabet (GOOGL), Meta Platforms (META), and in some cases Oracle (ORCL) as potential beneficiaries.
Overall capital spending is still expected to reach $3 trillion to $4 trillion over the next few years, with Big Tech capex above $1 trillion next year, Ives said. A slower buildout could reduce capital raising by about 25% over the next year.
Ives added that the AI revolution will continue, though at a slower rate, and political leaders will need to balance data center concerns with global AI competition.
