Big Tech Defied Tradition With a Risky Bet on Trump. It’s Not Looking Like a Winner.

Tech leaders including Elon Musk, Marc Andreessen and Ben Horowitz have poured hundreds of millions into Republican campaigns, but with Trump's dismal approval ratings and AI opposition emerging as a campaign issue, those bets look far less promising. Musk alone has spent almost half a billion dollars, nearly $200 million of it backing Texas Attorney General Ken Paxton, who is in danger of becoming the first Republican to lose a statewide race there in decades. The piece also notes Rest of World's likely shutdown, Anthropic S-1 reactions, five midterm races with high stakes for tech, and notable deals including Kalshi's $40 billion valuation.