Elon Musk gambled $445 million to boost Republicans in the midterms and came up short - AP News — SkimNews
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- Elon Musk gambled $445 million to boost Republicans in the midterms but came up short, with his political effort also framed around keeping Texas red.
- SpaceX and Tesla stocks tumbled as the Democratic sweep raised questions about merger prospects and the AI build-out.
Why it matters: Musk’s $445 million failed to deliver the Republican midterm gains he sought. The Democratic sweep was paired with a tumble in SpaceX and Tesla shares and fresh scrutiny of merger prospects and AI build-out, leaving his setback with both political and market consequences.
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