Foto: BB.LV / Маск и Трамп
Now his businesses face increased scrutiny, a review of tax benefits, and parliamentary investigations. The results in Texas have become particularly sensitive. Musk spent over $224 million supporting Republicans, hoping to maintain favorable conditions for his companies. However, the candidates he backed lost key elections. State Attorney General Ken Paxton lost to Democrat James Talarico in the race for a Senate seat. Governor Greg Abbott, a close ally of Musk, under whom his companies received significant tax breaks and subsidies, lost to Democrat Gina Inohosa. In his victory speech, Talarico spoke out against the influence of big money in politics, stating that no billionaire can buy elections. The market reacted with a decline in stock prices. Shares of Tesla and SpaceX fell by more than 4% at the start of trading. Within a few hours, the combined market value of the companies decreased by more than $140 billion. Analysts at investment firm Wedbush warned that Musk would need to reconsider his strategy in Texas. The Tesla factory in Austin, the robotaxi service, and the Starbase spaceport in Boca Chica may face stricter oversight under the new state administration. ## ## Voters Opposed Data Centers The voting results revealed another problem for the tech business – resistance to the construction of data centers. In 13 states, questions regarding the placement of data centers were put to a direct vote. According to American polls, two-thirds of citizens oppose the construction of new facilities. The main reasons are rising electricity bills and the large amounts of water needed to cool the equipment. In central Ohio, voters rejected all initiatives related to the construction of data centers. Additionally, they supported a ban on facilities with a capacity of over 25 megawatts. Residents' dissatisfaction became one of the tools in the Democrats' election campaign. Elected Texas Governor Inohosa promised to completely halt the construction of new server complexes, require AI developers to cover all associated electricity costs, and eliminate corporate tax breaks. Shares of Oracle, CoreWeave, and Nvidia plummeted. Investors fear restrictions in Texas, which was hoping to become one of the largest global centers for server infrastructure. Musk did not comment on the results for most of the night after the voting, and then posted several ironic messages on X. Against the backdrop of halted projects, he wrote that the idea of SpaceX placing data centers in space now looks quite attractive. "It seems my space lasers for interfering in elections didn’t work this time," the billionaire added. Earlier, SpaceX applied to launch a million satellites that are supposed to function as orbital servers. Restrictions on the construction of ground facilities may increase interest in this project. ## ## Investigations in Congress and Financial Risks Political changes in Washington create additional threats for Musk. The committee he founded, America PAC, lost in 93% of the electoral campaigns it intervened in. Democrats in Congress have already announced their intention to investigate major contracts between SpaceX and the Pentagon and NASA, as well as potential conflicts of interest during Musk's time in the Trump administration. Executives from AI companies are expected to be called to hearings. Increased oversight could also impact funding for the entire industry. According to J.P. Morgan, spending on building computing infrastructure in the U.S. is expected to reach approximately $5 trillion by 2030. Nearly $2 trillion of this amount is expected to be raised through debt markets and large loans. Delays in construction permits, rising electricity and water rates increase the risk that companies will not recoup their investments in servers before AI projects become profitable. Donald Trump retains veto power over federal laws. However, the election results show that the opportunities for tech companies depend on the decisions of state authorities and the positions of local residents. For Musk, the next stage will be the fight for the working conditions of his enterprises – from car factories to data centers and space projects.
