# Tel Aviv Stocks Slip as Data-Center Tax Fears and a Teva Retreat Weigh

Israeli shares fell with global markets, server-farm developers dropped on a possible special levy, and Teva said it will cut 250 jobs after a failed division sale.

- Published: 2026-06-10T10:11:28.349Z
- Canonical: https://polylog.news/2026-06-10/tel-aviv-stocks-slip-as-data-center-tax-fears-and-a-teva-ret
- Publisher: Polylog (Global desk)
- Section: markets
- Sources: [Globes](https://www.globes.co.il/news/article.aspx?did=1001545493#utm_source=RSS), [Globes](https://www.globes.co.il/news/article.aspx?did=1001545381#utm_source=RSS), [Globes](https://www.globes.co.il/news/article.aspx?did=1001545474#utm_source=RSS)

Trading in Tel Aviv took place during a period of instability in global markets, with the shekel weakening and the United States dollar rising above 2.96 shekels as investors awaited American inflation data, [Globes reported](https://www.globes.co.il/news/article.aspx?did=1001545381#utm_source=RSS). The benchmark indexes declined while oil and gas shares advanced on higher energy prices.

Developers of data centers declined significantly on news that Israel's Finance Ministry is weighing a special tax on server farms, [according to a separate Globes report](https://www.globes.co.il/news/article.aspx?did=1001545493#utm_source=RSS). The expectation of a wave of construction tied to artificial intelligence had lifted energy-related stocks, but officials are concerned about the strain those facilities place on the electricity grid. An interministerial team is studying the issue, and the prospect of a levy unsettled the market.

Adding to the corporate pressure, the pharmaceutical company Teva said it will gradually lay off about 250 workers in Israel across its active-ingredients division, known as TAPI, after a planned sale of the unit failed to close, [Globes reported](https://www.globes.co.il/news/article.aspx?did=1001545474#utm_source=RSS). The cuts will mainly affect the Teva Tech site at Neot Hovav.

Together the developments show a market absorbing several distinct pressures at once. They include a war-driven rise in energy costs, policy uncertainty over how to tax the artificial-intelligence buildout, and individual corporate restructuring. The weaker shekel and the focus on United States inflation tie local sentiment directly to the global rate outlook.

## What this means

A single national market is showing how several macroeconomic forces intersect: war-driven energy inflation, the fiscal response to artificial-intelligence infrastructure, and a stronger dollar pulling capital toward United States rate expectations. The data-center tax debate previews a wider question for many governments about who pays for the electricity demands of artificial intelligence.

## What to watch

- Whether Israel's Finance Ministry advances a formal server-farm tax proposal.
- The shekel's path against the dollar around the United States inflation release.
- Teva's wider restructuring plans following the failed TAPI division sale.