Sectoral divergence on Wall Street: Data center stocks diverged negatively

U.S. equities rallied after Democrats won a congressional majority, with the Nasdaq 100 gaining more than 1%, but data-center stocks that had powered the AI trade lagged the advance. CoreWeave, IREN and Nebius Group all came under selling pressure even as the broader market moved higher, highlighting a sector-specific divergence. The split matters because data-center names have been among the biggest beneficiaries of AI-related spending, so their underperformance while the index rises signals investors may be rotating away from that theme. What to watch next is whether the weakness in CoreWeave, IREN and Nebius proves a short-term pause or the start of a sustained de-rating in AI infrastructure plays.