Concerns include potential grid-interconnection delays, stricter environmental reviews and local moratoriums on high-density power and water use in major hubs such as Texas. Meta Platforms President Dina Powell McCormick said Wednesday at the WSJ Tech conference that building data centers is “going to be harder.”

CoreWeave, the Nvidia-backed compute provider, dropped 4.1% to $46.46 shortly after Thursday’s opening bell. Applied Digital, Core Scientific, IREN, Hut 8 and Nebius Group also traded lower, with losses ranging from 2.8% to 7.1%.