On November 5th, Goldman Sachs stated that the unexpected victory of the Democratic Party in the mid-term elections in the United States could have a significant impact on the regulatory environment for AI and the data center industry, especially at the state and local government levels. The bank expects that the Democratic Party's success in local elections will lead to stricter AI and data center regulations, which may put pressure on some of the American public utility companies and independent power generation enterprises that supply electricity to data centers.
Goldman Sachs analyst Jenny Grimberg pointed out that after the Democrats gain a majority in both the Senate and House of Representatives, they are expected to use the upcoming fiscal policy negotiation period to strive for restrictions on the war with Iran, the removal of some tariffs, and the reversal of recently implemented fiscal spending cuts. However, the bank believes that the impact of restrictions on data center construction may be temporary, and the importance of related disputes is expected to gradually decline. Additionally, the suspension orders for data center construction issued in some regions may not last too long either.
In terms of the energy market, Goldman Sachs noted that after the mid-term elections in the United States, the geopolitical risk premium in international oil prices has significantly declined. However, considering that the supply of oil from the Middle East still faces downward risks, the bank has recently raised its forecast for the average price of Brent crude oil in 2027 from $80 per barrel to $88 per barrel, and as a result, it expects Europe to face pressures of slowing economic growth and rising inflation next year.












