Oksana Koneva

Spiros Margaris: Microsoft and Amazon shares rise over 6 percent after U.S. midterms

Spiros Margaris: Microsoft and Amazon shares rise over 6 percent after U.S. midterms
Microsoft and Amazon shares climb over 6 percent

Microsoft and Amazon shares each rose more than 6 percent after the U.S. midterm elections, while CoreWeave fell around 10 percent.

Spiros Margaris, founder and owner of Margaris Ventures, said that slowing the pace of new AI data center construction could make existing centers more valuable. Margaris also noted that companies with existing capacity and large financial resources could become the biggest winners as AI demand remains strong.

Margaris previously highlighted how Bank of America employed 1,000 extra contractors to address AI-identified security issues, expecting cost savings of $700 million next year, according to a recent report here. He also noted that AI-powered demand drove memory chip prices sharply higher, with Apple projected to pay $25 billion for storage that cost $6 billion a year ago here. These developments reflect the increasing pressure on major firms to adapt to AI-related operational and cost challenges.

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