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SpaceX Shares Slide Amid Tech Selloff
SpaceX shares fell more than 7% and Tesla shares more than 9% in early trading on Friday, as tech and AI stocks slumped and the Nasdaq dropped more than 5% at one point. Investors reacted to possible tougher scrutiny of data-centre construction and the AI industry after Democratic victories in key states, including Texas, where governor-elect Gina Hinojosa had campaigned for a halt to new data-centre construction. Chipmakers also suffered losses, while some investors worried AI stocks may be in a bubble.
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