Hedge fund manager Bill Ackman is among the voices speaking out about the United States falling behind China if there isn’t more AI and data center growth. Ackman recently supported a proposal on data center regulation that former presidential candidate and current Ohio governor hopeful Vivek Ramaswamy shared on social media.
Vivek Ramaswamy Takes on Data Centers
Ramaswamy was one of multiple Republican candidates in the 2024 presidential election before he dropped out and endorsed eventual winner Donald Trump. Now running for Ohio governor as the Republican candidate, Ramaswamy shared his take on "Ohioans First" when it comes to data centers.
"Key citizen concerns about data centers include rising electric bills, noise, pollution, and the absence of clearly defined economic benefits for Ohio families," Ramaswamy said in a social media post.
The entrepreneur and investor says he’s "not pro-data center," but rather calls himself "pro-Ohio."
Ramaswamy says data centers are helpful for high-paying construction jobs, something his state could use.
"I am convinced that the best path forward is neither unrestrained data center growth nor a permanent categorical ban. The right answer is a policy framework that allows Ohio families to prosper economically while protecting local communities."
In the post, Ramaswamy pledges the following to Ohio residents if a data center is built in their community:
- No longer have to pay home’s electricity
- Pay lower property taxes
- Data center will abide by air and water quality standards
"If any one of these three conditions is not met, the data center won’t be built. Period."
Ramaswamy said his plan will help all Ohioans.
"In summary, my administration will eliminate electricity costs and reduce property taxes for homeowners, while also ensuring that all environmental laws are respected and that farmland is preserved."
The post from Ramaswamy has been viewed over a million times on social media and has caught the attention of some top technology investors.
Altimeter Capital’s Brad Gerstner commented on the post with a U.S. flag and rocket emoji.
Pershing Square Capital’s Bill Ackman reshared the post recently and highlighted the plan.
"Interesting idea and framework on data center construction. This is among the reasons why I like @vivekgramaswamy for governor," Ackman tweeted.
Ackman’s support comes as Ramaswamy’s plan hits on some of the major complaints nationwide against data centers. Consumers have complained about water being tainted in areas with data centers. Others have also complained about their home values going down and receiving no monetary incentive.
Under the plan, those who live near data centers could end up profiting from a location being constructed.
Investments Align
While Ramaswamy is supportive of the build-out of data centers, Innovation Ohio highlights that the governor candidate has an investment portfolio that includes pieces of the data center supply chain.
The report says Ramaswamy’s investments cover sectors like chip manufacturers, hardware suppliers, real estate developers and tech companies that operate the facilities.
"He’s also invested in the AI and cryptocurrency companies that depend on data centers," the report says.
A similar note could be made for Ackman.
The Pershing Square Capital CEO has investments in Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), Meta Platforms (NASDAQ:META) and Microsoft Corporation (NASDAQ:MSFT) in the Pershing Square hedge fund.
Ramaswamy and Ackman supporting the build-out for data centers could help both profit financially. For Ramaswamy, the investor has to weigh the political battle, as data centers being built in some states have generated pushback from both Democrats and Republicans.
With a plan to support residents financially and honor the environmental concerns, his plan may be one of the best laid out publicly yet. The question is if his plan is feasible and data center companies would commit to the listed items.
Photo Courtesy: Maxim Elramsisy on Shutterstock.com
