NJ Rep. Kean profited from AI stocks as data center backlash grew

U.S. Rep. Tom Kean of New Jersey has accrued significant financial gains from stock purchases in key AI data center industry component suppliers, Texas Instruments, NVent, and Analog Devices. These investments, totaling at least $90,000 since April 2025, occurred amidst growing public backlash against data centers over their impact on electricity bills, water usage, and noise levels, a contentious issue ahead of this fall's midterm elections.

While Kean's spokesperson stated his assets are in a blind trust and he has no input on trades, Democrat Rebecca Bennett, his opponent in New Jersey's 7th Congressional District, criticized his actions, citing her own divestment from individual stocks. Kean also sits on the House Energy and Commerce Committee, which oversees AI-related issues.

The expansion of data centers has driven up electricity costs in New Jersey by as much as 22% in the last year. In response, Gov. Mikie Sherrill has proposed a legislative plan to balance data center development with community and environmental concerns. More than 25 towns in the state have either passed or proposed ordinances banning data centers.

Andover Township in North Jersey exemplifies the local opposition. After initially passing zoning changes to permit data centers in a redevelopment zone, intense outcry from residents and activists, including organizer Birdie Green of the Sussex Visibility Brigade, led the township committee to unanimously ban data centers and repeal its prior zoning rule in May. National Land Developers LLC, which was in early stages of a data center project in Andover, is now suing the township over the ban.