Policy & Regulation
Voters back data center limits in 33 of 45 local ballot measures
According to The Verge, 33 of 45 local ballot measures on data centers will restrict development, based on a Redbud Consulting tally as of Wednesday morning. In NBC News polling on Election Day, 76% of voters said they opposed data centers in their communities. Winners including Texas Gov.-elect Gina Hinojosa and Michigan Sen.-elect Abdul El-Sayed support moratoriums. In NBC News and SSRS exit polls, 56% called AI and data centers a decisive or important factor in their vote, the lowest of five issues surveyed, The Decoder reports.
Sources: TechCrunch AI, The Verge AI, Ars Technica AI, MIT Technology Review AI
Products
Google to cut Search for schools that block its AI features
Google announced new AI tools for schools and controls letting administrators turn AI off. Chris Phillips, Google's vice president for education, told the New York Times that schools that ban AI will lose access to Search, because "search and AI are deeply integrated." New York City Mayor Zohran Mamdani and former FTC chair Lina Khan accused Google of using its search monopoly to push AI into schools. Google also said Gemini, Gemini Notebook, Gemini in Classroom and Search will be off for K-12 student accounts until administrators turn them on.
Sources: TechCrunch AI, Ars Technica AI, The Guardian AI, CNBC Technology
Policy & Regulation
OCC issues AI supervisory framework for bank examiners
The Office of the Comptroller of the Currency issued a framework for its bank examination staff on banks' use of AI, Finextra and Reuters report. Reuters calls it the agency's first AI guidance for examiners.
Sources: Finextra, Reuters, pymnts.com, Decrypt
Business & Funding
Meta raises €9 billion in debut euro bond sale
Bloomberg reports that Meta raised €9 billion in its first euro bond sale, which drew a record €53 billion in orders. CNBC reported earlier that Meta was seeking $20 billion to $25 billion across dollar and euro tranches. S&P Global Ratings recently changed its outlook on Meta's AA- rating to negative, citing uncertainty over capital spending and negative free cash flow. Meta has said it plans to raise $95 billion for its AI initiatives.
Sources: CNBC Technology, Bloomberg, NeoTeo
Other
Tech stocks recover on Tuesday as Nasdaq gains 0.83%
The Guardian reports the S&P 500 rose 0.37% and the Nasdaq 0.83% on Tuesday, ending a selloff that put the Nasdaq in correction territory on Monday. Nvidia gained 2.3%, and AMD, Broadcom and Micron also rose. The Dow fell 0.38% after Apple dropped 1.9% on a weaker margin forecast tied to memory chip costs. Reuters reports data center shares fell as investors expect a slower AI buildout after Democrats won Congress.
Sources: The Guardian AI, Reuters, Bloomberg, Yahoo Finance