Tech CEOs court Democrats amid policy shift
The gist
Democrats won both chambers of Congress in the midterms, and tech firms are now courting them.
About $2.3 trillion in market value vanished as investors weighed a harsher AI climate.
How it unfolded
- Nov 4, 2026Democrats win control of both chambers of Congress in the midterm elections, ending Republicans' grip and the largely unregulated run of the tech sector.
- Nov 5, 2026Meta President Dina Powell McCormick says, "Every hyperscaler is now thinking about 'Do we need to build outside the United States?'" Elon Musk posts on X: "Data centers in space looking pretty appealing right now."
- Nov 9, 2026Palantir hires former Democratic Sen. Jon Tester of Montana as tech companies brace for scrutiny when Democrats take over Congress in January.
Key terms
- midterms
- US general elections held near the midpoint of a president's four-year term, when all House seats and about a third of Senate seats are contested.
- hyperscaler
- Large cloud computing providers whose infrastructure can scale rapidly to meet growing demand.
Source: Wikipedia