Democratic midterm landslide deals blow to Musk's political influence, putting pressure on Tesla and SpaceX shares. The Democrats' sweeping victory in the midterms and capture of control of Congress pose headwinds to US President Donald Trump and his tech allies' political influence as well as the expansion of AI data centers. Musk poured at least $474 million into the elections, and the Texas Republican candidates he backed suffered defeats. Coupled with newly elected Texas Governor Gina Hinojosa's opposition to generous corporate subsidies and plans to tighten data center policies, companies with operations in Texas, such as Tesla and SpaceX, face stricter regulation and scrutiny.