Gina Hinojosa

Democrat Gina Hinojosa defeated Republican Gov. Greg Abbott in Texas, with Abbott conceding after a 57% to 42% count, making her the state's first Latina governor and first Democrat elected there since 1990. Hindustan Times adds that James Talarico also won the U.S. Senate seat in Texas over Republican Ken Paxton. In Ohio, Democrat Amy Acton beat Republican billionaire Vivek Ramaswamy, and in Iowa, Rob Sand won the governorship, the first Democrat to hold it since 2006.

Pimco CEO Emmanuel Roman estimates AI infrastructure financing could reach $10 trillion over five years, close to the roughly $12 trillion US bond market. OpenAI cut its latest fundraising target from $30 billion to $20 billion after raising about $11 billion, according to the Financial Times. S&P Global lowered Meta's credit outlook to negative, citing negative cash flow. A European bank lender said the bank is nearing its AI lending limit. Following the 3 Nov elections, Texas Governor Gina Hinojosa called for an immediate moratorium on new data centre approvals.

The Democratic Party now holds 54 seats in the Senate and 228 seats in the House, giving it clear control of both chambers. Voters flipped four Senate seats previously held by Republicans, including a win in Texas that made James Talarico the state's first Democratic senator since 1988 and a victory in South Carolina. In Texas, Gina Hinojosa also became the first Latina governor. The Justice Department deployed about 1,000 monitors to polling places nationwide, citing election integrity as a top priority.