On Wednesday, the rebound following the mid-term elections turned into a sharp decline on Thursday, as tech company executives tried to downplay the claim that "potential data center constraints could have a catastrophic impact on business."

Following the Democratic Party's sweeping victory in the mid-term elections on Tuesday night, capturing seats in Congress as well as in the governorships and state legislatures of multiple states, the stock market initially rose on Wednesday, recording its best single-day performance in over 18 months with President Trump making almost no public statements.

However, on Thursday, the situation quickly reversed. As investors grew concerned that candidates supporting data center regulation in states such as Texas winning could slow down the pace of data center construction, and that artificial intelligence trading might have already reached its peak, the stock market tumbled significantly. Tech stocks led the decline, with the combined market value of the "Big Seven" U.S. tech companies evaporating by over $1 trillion.

The stock market regained some of its losses on Friday.

The following are the responses of tech executives to the mid-term elections and the risk of selling off:

Arm Chief Executive Officer Rene Haas

Haas described post-election panic as "a very, very short-term mindset," and stated that in the long run, it is unlikely to pose a significant threat to Arm's business. However, he noted that the United States must continue to invest in data center construction; otherwise, other regions of the world will catch up.

"If the United States hesitates in any way regarding data center construction, regions around the world are already prepared and willing to take over. The demand for such capacity is simply too great," Haas stated on Thursday during the CNBC program " Squawk on the Street."

OpenAI Chief Financial Officer Sarah Friar

Friar On Friday, CNBC stated that after voters clearly refused to have a data center built near their homes in the mid-term elections, OpenAI will continue to invest in data center infrastructure. The company will also take into account community concerns, including power issues. "We will never increase your electricity bills," Friar said.

"When I think about the midterms, what I need to continue to consider is how we can continue to invest to meet customer needs. It all starts with establishing relationships with all the largest cloud service providers as early as possible, and that still means we need to continue to raise funds," said Friar.

"If mid-term elections mean we need to pay more attention to data centers and communities, then we will continue to do this work, engage with these communities, and build trust with them."

Qualcomm CEO Cristiano Amon

Amon indicates that external concerns regarding the prospects of data center construction will not pose a significant threat to the business of this chip manufacturer, as data center infrastructure is just one of its niche areas. Qualcomm's shares fell by 9.49% on Thursday during the selling pressure, but they managed to recover some of their losses on Friday.

"The whole market is declining, but I think Qualcomm's story is a bit different," Amon told CNBC on Thursday. Unlike traditional PC and data center chip manufacturers, Qualcomm has always focused on low-power computing. "The story of Qualcomm lies in what we do beyond the specific issue of data centers."

Box Chief Executive Officer Aaron Levie

Levie On Thursday, regarding Squawk on the Street, he stated that increased productivity means AI "is clearly moving in one direction." However, he noted that industry rhetoric tends to converge around "doom theories," which may exacerbate the public perception issues faced by AI companies.

"I think it would be easier to shift the narrative towards more risk-oriented information, and that is clearly an area where our industry needs to make efforts to improve. But in the end, consumers certainly need to see direct benefits, and that takes time," said Levie of Box.

Lyft Chief Executive Officer David Risher

Risher indicates that a sluggish market sentiment is not a cause for concern, as the consumer sentiment and order volume of Lyft remain strong.

“I won’t let things that happen in the short term on the market distract me too much. For example, looking at the consumer side, we just had the biggest Halloween ever,” Risher said to CNBC in the “Squawk Box” on Friday.