00:00It's Benzinga bringing Wall Street to Main Street.
00:02Democrats seized control of both chambers of Congress in Tuesday's midterm elections,
00:07delivering a major setback to President Donald Trump and the tech billionaires who backed
00:12Republican candidates, according to CNBC. Tech and corporate interests spent hundreds of millions
00:19of dollars backing Republican candidates. The results also dealt a blow to tech billionaires,
00:24including Elon Musk, who spent heavily backing Republican candidates. Musk spent more than
00:30$200 million trying to defeat James Tallarico in the Texas Senate race. Voters also expressed
00:37frustration over rising prices, government corruption, and the AI data center buildout.
00:43Republican redistricting efforts also failed to protect several key House seats.
00:48Democrats gained congressional oversight powers, with lawmakers already calling for AI executives
00:54to testify under oath. For all things money, visit Benzinga.com.
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