# Elon Musk suffers midterm blow as SpaceX, Tesla plummet: ‘My election-interfering space lasers didn’t work’

- URL: https://talkfuse.com/story/elon-musk-suffers-midterm-blow-as-spacex-tesla-plummet-my-election-interfering-space-lasers-didnt-work/
- Published: 2026-11-04T15:46:28+00:00
- Updated: 2026-11-05T08:12:12+00:00
- Original publisher: New York Post (publisher lean: Right)
- Original article: https://nypost.com/2026/11/04/business/elon-musk-suffers-midterm-blow-my-election-interfering-space-lasers-didnt-work/
- Topics: Elections, Politics, Space, Technology, World

## Key points

- Democrats made gains despite Musk’s record campaign spending.
- SpaceX and Tesla shares fell more than 3%.
- Data centre plans face political and public opposition.

## Summary

Elon Musk’s political spending did not prevent Democratic gains in the US midterms, including major wins in Texas, where SpaceX and Tesla are based. Their shares fell by more than 3% on Wednesday as investors weighed whether new political leadership could complicate plans to build data centres and expand AI computing.

Musk spent $474 million backing Republican candidates, including $224 million in Texas, where about 27% of planned US data centre capacity is located. CoreWeave and Iren shares fell 10% and 11%, while Nvidia dipped 3.2%. The article cites investor concerns about possible construction moratoriums, growing public opposition to data centres and a New York state pause on large projects.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.