PWCM

A newly elected governor who campaigned on restricting data center development has already sought to preserve Meta Platforms Inc.‘s (NASDAQ:META) investment in their state, prompting Futurum Equities strategist Shay Boloor to highlight the economic realities behind political promises.

Meta President Warns of Data Center Opposition

Speaking at the Wall Street Journal Tech Conference on Wednesday, Meta President Dina Powell McCormick said Democratic victories in the midterm elections could make it increasingly difficult for technology companies to build data centers.

She acknowledged that the industry has struggled to communicate the benefits of these projects to local communities, adding that opposition to data centers is also connected to broader concerns about artificial intelligence.

“The visible sort of manifestation of AI is a data center, and it’s something that people can say, ‘I don’t want this in my community,'” she said.

Meta operates data centers across 23 states, with five planned projects designed to deliver at least 1 gigawatt of power capacity each.

Anti-Data Center Governor Wants Meta’s Investment

However, Powell McCormick revealed that a newly elected governor who campaigned against data centers had already requested a meeting with the company after inauguration.

“We don’t want to lose this investment in our town. We don’t want these jobs to go elsewhere,” she quoted the governor as saying.

Powell McCormick said winning community support would be critical to securing approvals for future data center projects, as the company faces growing political resistance to AI infrastructure.

She outlined the company’s approach, which includes paying for its own electricity, directing additional tax revenue toward teachers and first responders, hiring local workers and seeking bipartisan support.

Shay Boloor Highlights Political Contradiction

Reacting to Powell McCormick’s remarks, Boloor pointed to the contradiction between campaigning against data centers and wanting to retain their economic benefits.

“Turns out campaign promises look a lot different when billions in investment and jobs can simply move to the next state,” Boloor wrote on X.

$META president says a newly elected governor who made data centers a campaign issue has already asked to meet after inauguration because "we don't want these jobs to go elsewhere."

Turns out campaign promises look a lot different when billions in investment and jobs can simply… https://t.co/F52nWZ84LI pic.twitter.com/rvS7OnC4fn

— Shay Boloor (@StockSavvyShay) November 5, 2026

Meta Beats Q3 Estimates, Raises 2026 Spending Outlook

In October, Meta reported third-quarter revenue of $64.6 billion, topping analyst expectations of $63.37 billion. Adjusted earnings came in at $7.40 per share, also surpassing estimates of $5.74.

For the fourth quarter, the company forecast revenue of $73 billion to $76 billion, compared with analyst expectations of $73.74 billion.

Meta raised its full-year 2026 expense outlook to $175 billion-$179 billion, up from its previous forecast of $165 billion-$169 billion, reflecting a $9.9 billion charge related to legal proceedings recorded in the third quarter.

The company also expects full-year capital expenditures of $ 135 billion-$145 billion, compared with its earlier projection of $ 130 billion-$145 billion.

Price Action: Meta shares closed at $605.08 on Thursday, down 3.96%. The stock edged up 0.077% to $605.55 in after-hours trading, according to Benzinga Pro.

According to Benzinga Edge Stock Rankings, Meta ranks in the 90th percentile for Quality and the 67th percentile for Growth.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock