Trump Targets Data-Center Power Costs: What It Could Mean for Big Tech, Utilities and REIT Stocks

President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:

“Under Sleepy Joe Biden and the Radical Left Democrats, the average American Household’s monthly Utility bills went up MASSIVELY — over 30%! I never want Americans to pay higher Electricity bills because of Data Centers. Therefore, my Administration is working with major American Technology Companies to secure their commitment to the American People, and we will have much to announce in the coming weeks. First up is Microsoft, who my team has been working with, and which will make major changes beginning this week to ensure that Americans don’t “pick up the tab” for their POWER consumption, in the form of paying higher Utility bills. We are the “HOTTEST” Country in the World, and Number One in AI. Data Centers are key to that boom, and keeping Americans FREE and SECURE but, the big Technology Companies who build them must “pay their own way.” Thank you, and congratulations to Microsoft. More to come soon! President DJT”

How Will Trump’s Statement Affect the Stock Market?

This latest post has the potential to affect the stock market. That’s because Trump’s post suggests potential regulatory or cost pressures on AI and data-center power usage, which could weigh on hyperscalers and data-center REITs such as Amazon, Meta, Alphabet, Microsoft, Digital Realty, and Equinix, as investors reassess margins and capex needs. Conversely, utilities like NextEra and the Utilities Select Sector SPDR Fund might see both opportunity (higher long-term demand) and risk (political pressure to keep consumer bills low), creating short-term volatility, while AI-related beneficiaries like Nvidia and broad tech vehicles (QQQ, XLK, VGT) could face headline-driven swings despite strong underlying AI demand. Real estate-focused ETFs with data-center exposure (VNQ, IYR, XLRE) may experience sector-specific repricing based on perceived policy risk to data-center economics, even as long-term digital infrastructure demand remains intact.

Here are some of the stocks that might be affected:
Amazon.Com, Inc. ((AMZN)),
Digital Realty Trust ((DLR)),
Equinix ((EQIX)),
Meta Platforms, Inc. ((META)),
Alphabet Inc. Class A ((GOOGL)),
Microsoft ((MSFT)),
NextEra Energy Inc. ((NEE)),
Nvidia Corporation ((NVDA)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
Utilities Select Sector SPDR Fund ((XLU)),
Vanguard Information Technology ETF ((VGT)),
Vanguard Real Estate ETF ((VNQ)),
iShares U.S. Real Estate ETF ((IYR)),
Real Estate Select Sector SPDR Fund ((XLRE)).