Nancy Pelosi’s Household may be Congress’s Biggest Data Center Investor

Former House Speaker Nancy Pelosi’s household may be Congress’s largest investor in data center-related assets, according to a Forbes analysis of lawmakers’ financial disclosures.

Former House Speaker Nancy Pelosi’s household has reported substantial investments in companies linked to data center infrastructure, according to a Forbes analysis. [Photo: U.S. Department of Labor]

On September 18, 111 members of the U.S. House of Representatives published an open letter to technology industry leaders calling for stronger safeguards around data center construction.

Their demands included community benefits agreements, prevailing wages for data center workers and measures to mitigate environmental impacts.

Pelosi, who has represented San Francisco in Congress for decades, was among the signatories.

Her participation drew attention because of her family’s reported investments in companies connected to the data center industry.

In the four months before signing the letter, Pelosi’s financial disclosures reported millions of dollars’ worth of purchases of stocks and options linked to data center infrastructure.

In May, her husband, Paul Pelosi, purchased Intel options valued in the disclosed range of $1 million to $5 million.

Intel manufactures chips used in computing and data center infrastructure.

Its financial performance and exposure to artificial intelligence have made the company a prominent participant in the technology sector.

On July 24, Paul Pelosi purchased additional Intel investments, along with shares and options in Bloom Energy valued in the disclosed range of $2 million to $10 million, according to Barron’s Daily.

Bloom Energy makes fuel-cell systems that can provide electricity for data centers and other facilities. Four days later, he reported another Bloom Energy investment in the range of $1 million to $2 million.

Federal financial disclosure rules require lawmakers to report certain transactions involving themselves, their spouses and dependent children.

However, transaction values are generally disclosed in broad ranges, so the precise value of individual holdings cannot necessarily be determined from the filings.

Forbes estimated that between $16 million and $75 million in assets disclosed by Pelosi’s household were linked to the data center industry.

The publication said the scale of those reported investments likely made the household the largest data center investor among members of Congress.

Pelosi spokesperson Nicholas Martin said in a statement: “Speaker Pelosi does not own any stocks and has no knowledge or subsequent involvement in any transactions.”

The disclosures and the spokesperson’s response raise questions about how lawmakers’ financial interests intersect with their policy positions. However, the reported investments alone do not establish wrongdoing or demonstrate that Pelosi personally directed the transactions.