News · Yahoo Finance

Tesla, SpaceX Dive As Elon Musk's Big GOP Election Bet Fails

Elon Musk was the largest individual donor to the midterm elections.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on Yahoo Finance ↗

Keywords

Elon MuskTSLASpaceXmidterm elections

Open a keyword to see other news on the same topic.

Related tickers and likely impact

TSLA

▼ Likely negative

Tesla, Inc.

Relevance: high

MarketUS stocks
SectorConsumer Discretionary
IndustryAutomobile Manufacturers
Market cap$1.6T
Close on 11/03/2026398.22
Change that session-1.39%
TSLA price, forecasts and signals →

Impact is scored by AI from the headline and may be wrong. It is not investment advice.

Related news

  • Stock Market Today: Dow Surges 800 Points On Election Results; Elon Musk-Led SpaceX, Tesla Dive (Live Coverage)

    The Dow Jones index rose 800 points on Wednesday following U.S. election results, while shares of Elon Musk-led SpaceX and Tesla fell sharply.

    Yahoo Finance·▲ SPY▼ TSLA▲ QQQDow Jonesmidterm electionsTSLA
  • SpaceX, Tesla slide as election risks mount, Morgan Stanley turns bullish

    SpaceX shares fell about 5% and Tesla 5.6% as the midterm election results raised fresh questions about scrutiny of Elon Musk's companies. SpaceX is especially exposed to Washington given its government contracts, and Barclays flagged possible effects on AI infrastructure in Texas, where Governor-elect Gina Hinojosa has campaigned for a moratorium on new data-center construction. Meanwhile, Morgan Stanley sharply raised its forecasts: 2027 revenue of $175 billion (up 93%) and 2028 revenue of $289 billion (up 84%), with free-cash-flow positive expected in 2031 instead of 2035. The bank also cut its cumulative external borrowing estimate from $670 billion to about $390 billion.

    Yahoo Finance·• TSLASpaceXTSLAElon Musk
  • Tesla, SpaceX Stocks Are Down. It's the Midterms.

    Elon Musk's large donations did not change the election outcome in Texas. Democrats won the Senate and governor races.

    Yahoo Finance·▼ TSLATSLAmidterm electionsElon Musk
  • Midterm Election Impact: SPCX, ASTS, RKLB Stocks Sink As Musk’s Political Ties Put Tesla-SpaceX Merger Under Fresh Scrutiny

    SPCX, ASTS and RKLB, along with several other space stocks, fell between 2% and 6% overnight as fears of political backlash against Elon Musk after Democratic midterm gains spread across the sector. Market observers said heightened scrutiny of government contracts and possible hearings could complicate a Tesla–SpaceX merger, though it would not automatically block the deal. Musk contributed $446 million during the 2026 midterm cycle, mostly to Republican-aligned groups. Investor George Noble urged adding to his bearish bets on SPCX and TSLA, while Morgan Stanley said SPCX trades cheaper than the S&P 500 for fiscal year 2028, at 17.6 times estimated earnings versus the index's 17.7 times.

    Yahoo Finance·▼ TSLAmidterm electionsSpaceXTSLA
  • Tesla, SpaceX Shares Take Early Hit as Midterm Blue Wave Unfolds

    Tesla and SpaceX shares fell about 1.8% in postmarket trading on Tuesday after Senator Jon Ossoff was projected to win reelection in Georgia, and Decision Desk HQ later projected Democrats would take control of both the House and Senate. Investors worry that a Democratic-led Congress could tighten AI regulations and cast doubt on a potential merger of the two companies, though Congress cannot single-handedly block a deal. Tesla shares have rallied 34% since their late-July low, while SpaceX, which went public in June, holds a $1.9 trillion market valuation and earns billions from US government contracts. Market watchers warned that Democratic control could strengthen scrutiny of Musk's conduct and slow the anticipated tie-up.

    Yahoo Finance·▼ TSLATSLASpaceXElon Musk
  • SpaceX, Tesla fall around 4% on Democrats' big win; AI stocks mixed

    Shares of SpaceX and Tesla slipped in premarket trading Wednesday, down about 3.8% and 3.5%, after Democrats won a major victory in the midterm elections. Musk had spent $224 million in Texas backing Republican candidates, but Republican Senate nominee Ken Paxton and Gov. Greg Abbott lost, and Democrat Gina Hinojosa was projected to win the governorship over Abbott. AI stocks were mixed: CoreWeave fell 2.6%, Iren 2.8% and Oracle 1.3%, while Nvidia, Alphabet, Meta, Amazon and Microsoft rose about 1-2% and AMD jumped 6.8%. Wells Fargo said 27% of planned data center gigawatts are in Texas, and Hinojosa has backed a moratorium on AI data centers; the bank called a Democratic win there a potential “left-tail event” for the AI trade.

    CNBC·▼ TSLATSLAElon Muskmidterm elections

Related markets

US stocks →

Latest news

  • What sets AMD data centers apart as Intel stock keeps sliding?

    AMD beat Wall Street estimates for its third-quarter earnings, as AI data center revenue nearly doubled to $8.55 billion. Guests said Intel posted strong data center numbers but weak PC sales, and its stock plunged, while AMD's forward guidance, contracts, backlog and margins were seen as stronger. Revenue could grow 80% in 2027, up from an earlier estimate of 35%. They noted that higher memory prices and component costs were hurting PC demand, with 2027 PC shipments projected to fall by a double-digit percentage and gaming sales down 8% year-on-year. Commentators compared AMD's focus on data centers to Nvidia's shift from gaming chips to AI.

    Yahoo Finance·AMDIntelsemiconductors
  • Dow Jones futures surge 1,000 points after Democratic win, Trump makes surprising new move

    Dow Jones futures jumped as much as 1,083 points, or 2.1%, after Democrats won majorities in both the House and Senate in the midterm elections and took several key governorships, including Texas. The result could curb President Trump's policies, which combined business tax cuts with tariffs and the war in Iran, contributing to higher inflation. S&P 500 futures rose 1.1%, while Nasdaq-100 gained only 0.4% as AI-linked stocks came under pressure. Trump told the New York Times he was “fully prepared” to accept the results and said he and Republican lawmakers would work with Democrats, while Walmart rose 2%, Bank of America 1.9%, UnitedHealth 1.4% and Molina Healthcare 6.3%. Investors remain wary of possible restrictions on data center construction, as Gina Hinojosa, who pledged to pause new data center projects, won the Texas governor's race.

    CafeF·▲ SPY▲ QQQmidterm electionsDonald TrumpDow Jones
  • What i-80 Gold (IAU) Said on Its Q3 Earnings Call

    i-80 Gold said the feasibility study for Granite Creek Underground is complete, outlining an 8.5-year mine life, while Archimedes is set to begin mining in Q4 2026. The Lone Tree refurbishment is on schedule for first gold in Q4 2027, with its $430 million capital estimate largely intact. The company expects production to rise from 40,000–50,000 ounces annually to 150,000–200,000 ounces from 2028, with 2026 output in the lower half of guidance. In Q3, Granite Creek produced about 9,100 ounces of gold, though processing lagged mining due to limited availability at a third-party processor. At quarter-end, the company held about $411 million in cash and could access up to roughly $350 million in additional liquidity over the next 18 months, subject to financing arrangements and approvals.

    Yahoo Finance·i-80 Goldgoldmining
  • CoreWeave, Nebius Slide As Blue Wave Clouds AI Boom

    CoreWeave and Nebius shares fell as investors worried that the “blue wave” result in the midterm elections could slow the build-out of AI data centers.

    Yahoo Finance·▼ NVDA▼ QQQCoreWeaveNebiusdata centers
  • AI data center stocks dip as midterm elections shake up Wall Street

    CNBC cited $173 million in General Election data center advertising, almost all negative, with $140 million from Democratic advertisers. An NBC exit poll found 56% of voters called AI and data centers a crucial or major factor in their vote. In Texas, Hinojosa defeated Abbott, and her platform includes a moratorium or new requirements for data centers in a state expected to account for a quarter of capacity by 2030. Panelists said investors are wary, pushing down neocloud stocks such as CoreWeave and Applied Digital, along with Tesla and SpaceX, while hyperscalers were holding up better. They also noted that public opposition to nearby data centers over noise, gas turbines, fumes and water use had grown.

    Yahoo Finance·▼ NVDA▼ QQQdata centersmidterm electionsartificial intelligence
  • Why Cipher Digital Stock Lost 53.9% in October

    Cipher Digital (CIFR) fell 53.9% in October, versus a 0.9% dip in the S&P 500, as AI infrastructure stocks came under pressure over heavy borrowing needs. The sell-off intensified after the company raised $850 million through 0% convertible notes due 2032, with a conversion price of $15.31 per share, and the stock dropped 12.8% and 12.4% as the deal priced. Other pressures included a $359 million investment in the Barber Lake campus where construction costs rose, a Barclays warning on AI financing, and a record $6.3 billion Binance hack that hit crypto stocks. Bitcoin mining still accounted for 78% of Q3 revenue. Cipher has $16.6 billion in contracted revenue and expects about $864 million in annual net operating income once three campuses stabilize, yet it owes about $6.7 billion and was worth about $3 billion at the end of October. The article says the key question is whether the company can sign leases that justify its borrowing.

    Yahoo Finance·Cipher Digitalbitcoincrypto

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.