Hassett says data center buildout will continue despite 2026 ballot limits

What Hassett said on CNBC

"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." He also said "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 he respects localities that choose limits. Looking ahead, he predicted that expansion will gravitate toward states led by governors who are more receptive, and he added that places currently opposed may change course as the advantages become more apparent over time.

Ballots and polling

The wave of ballot measures was broad. Ballotpedia's tally shows that in no fewer than 46 of the roughly 50 initiatives on state ballots, voters backed restrictions on data center development.

According to the CNBC Voter Poll, 56% of midterm voters said data centers were a crucial or major issue. Among those who said it was crucial, 62% supported the generic Democratic candidate.

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Markets and the outlook

Hassett linked Thursday's tech-driven selloff to uncertainty about how the new political landscape could affect data centers, saying markets are anxious about a new majority that may meddle with the sector.

Trump has cast the sector as central to his AI push and has tried to rebrand it as "super intelligence," or SI.

What it means for your portfolio

The near-term takeaway is straightforward: projects already on the books over the next couple years remain on track by Hassett's account, while future growth is likely to concentrate in states signaling openness. He also tied the latest tech pullback to policy risk around data centers, even as he emphasized broader economic momentum.

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