SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook

Shares of Elon Musk’s companies SpaceX and Tesla slumped on Thursday, extending losses from the previous session, as investors worried that Democratic wins in the US midterm elections could slow data center build-outs.

SpaceX, which has leaned into the AI data center boom, is headquartered in Texas alongside Tesla, where Democrats won the races for Senate, governor and attorney general on Tuesday. Musk had spent heavily to back Republicans in the midterms.