Republican defeat depresses Tesla shares Coinciding with the electoral defeat of the Republicans in America, Tesla shares fell 5% and SpaceX 6.9% in pre-open trading. Musk, who has spent about $450 million to support Republicans, now faces the prospect of tougher artificial intelligence laws, restrictions on government contracts and uncertainty over the Tesla-SpaceX merger plan. On the other hand, SpaceX's dependence on multibillion-dollar contracts from the US government and the reliance of Musk's companies' stock value on future-oriented projects such as self-driving cars and artificial intelligence have heightened investor concerns.

Republican defeat depresses Tesla shares Coinciding with the electoral defeat of the Republicans in America, Tesla shares fell 5% and SpaceX 6.9% in pre-open trading. Musk, who has spent about $450 million to support Republicans, now faces the prospect of tougher artificial intelligence laws, restrictions on government contracts and uncertainty over the Tesla-SpaceX merger plan. On the other hand, SpaceX's dependence on multibillion-dollar contracts from the US government and the reliance of Musk's companies' stock value on future-oriented projects such as self-driving cars and artificial intelligence have heightened investor concerns.