StocksMedium•4 November 2026•
1 min read
IREN and CoreWeave Shares Slump on Texas Data Center Moratorium Fears
Key Facts
1IREN stock fell 5% to $23.33 amid concerns that Texas election results could lead to a moratorium on data center expansions.
2CoreWeave shares dropped 4% and Nebius dipped 2% as investors weighed regulatory risks in Texas.
IREN stock fell 5% to $23.33 amid concerns that Texas election results could lead to a moratorium on data center expansions. 247wallst.com reported that CoreWeave shares dropped 4% and Nebius dipped 2% as investors weighed regulatory risks regarding the state's power grid and land use.
IREN closed at $24.46 on November 3, 2026, while NBIS closed at $151.64 on the same date. According to 247wallst.com, these movements occur as IREN and CoreWeave focus on Texas, which Wells Fargo estimates holds 27% of planned U.S. data centers. Meanwhile, CRWV closed at $53.74 on November 3, 2026, prior to the election-related market reaction.