AI Jobs Fallout May Trigger Token Taxes, Big Safety Net Changes As Political Risks Mount

The article assesses political and policy risks that could threaten the AI-driven rally in technology stocks, arguing public backlash over job losses and proposed taxes or data-center moratoria could slow investment and innovation. It highlights rising anti-AI sentiment (about 70% negative in recent polls), high token consumption (OpenAI processing ~15 billion tokens/minute) and rapid revenue growth at AI service providers, which have fueled spending by hyperscalers on data centers. At the same time, rising tech layoffs (144,355 in 2026, ~47% above last year) and proposals like token taxes or data-center moratoria could prompt regulatory or tax responses that weigh on AI-capital-intensive firms and related supply chains. Investors should watch state and federal policy moves, data-center legislation in ~12 states, and political campaigns that could accelerate AI regulation.