Elon Musk pointed to space-based computing on November 4, 2026, as investor concerns grew about potential tighter limits on AI data center construction following Democrats' takeover of Congress and Democrat Gina Hinojosa's projected victory in the Texas gubernatorial election. Data center stocks fell in premarket trading.
Where
Statewide
When
Nov. 4, 2026
Sources
Reported by 2 outlets
Taxes and money
The sources don't state an effect on taxes. They do state these figures.
Private investment in space hardwareapproximately $17 billion1
Elon MuskDiscussed space-based computing on X platform
Gina HinojosaDemocrat who won Texas gubernatorial election, supports data center moratorium
Chamath PalihapitiyaInvestor who discussed space infrastructure opportunities on X
Brad GerstnerAltimeter Capital investor who warned about policy impacts
The facts
Democrats won control of both congressional chambers in Tuesday's elections.1
Texas accounts for 27% of planned U.S. data center power capacity, per Wells Fargo estimates.1
CoreWeave fell about 3.3%, Applied Digital declined about 3%, IREN dropped 4.3% in premarket trading.1
Shares of CoreWeave, Cipher Digital, IREN and Nebius stood roughly 50% to 60% below summer highs.1
SpaceX was down around 4% in premarket trading after elections.1
ERCOT showed queue of electricity connection requests reaching 474 gigawatt.2
Texas accounts for about 25 percent of all planned computing infrastructure capacity in the US.2
Who said what
These are statements and claims made by the people involved. They are reported, not verified.
Gina Hinojosa Supports a moratorium on AI data centers1
Elon Musk Data centers in space looking pretty appealing right now1
Brad Gerstner New policies at state level could hamper 10 to 15 gigawatt data center project planned for 20272
Gina Hinojosa Campaign included terminating subsidies for technology companies, requiring union labor, and proof that operations do not increase local electricity and water bills2
Where the sources disagree
Texas percentage of planned U.S. data center power capacity 27% per Wells Fargo [1]; about 25% per source [2]
How they headlined it
The same event, as each outlet put it. Marked words appear in only one outlet's headline.
Musk points to computing in space as fears over AI data center restrictions grow
These outlets were found through Google News headlines. Google decides which outlets appear there, and they lean mostly one way, so this sheet can only be as balanced as the reporting it was built from. Leanings are AllSides Media Bias Ratings.
Google proposed a data center campus near Palo that would use 10.4 million gallons of water per day. The facility would draw power from the Duane Arnold Energy Center and water from the Cedar River. Google presented evaporative cooling technology at an October 22 public meeting.
$10.4 million gallons per day for water usage
Google, data center developer; Kiran Udayakumar, technical program manager for utility infrastructure strategy and planning at Google
North Texas has become the busiest data center construction market in the United States, with mechanical trades becoming a critical constraint on project timelines. CBRE reported over 765 megawatts under construction in Dallas-Fort Worth in the first half of 2026, with 95% already preleased, but the industry faces a shortage of experienced mechanical, plumbing and controls contractors needed for increasingly complex liquid-cooling systems.
$765 megawatts for data center capacity under construction
CBRE, Commercial real estate firm that conducted North America Data Center Trends report; Associated Builders and Contractors, Trade group; ABC chief economist Anirban Basu commented on labor demand; TDIndustries, Dallas-based mechanical contractor recognized for data center projects
Cipher Digital, which operates industrial-scale data centers for bitcoin mining and high-performance computing, added a 70MW Horizon site in Texas to its portfolio.
$70MW for data center capacity
Cipher Digital, company adding data center site; KBW, analyst firm rating the company
OpenAI announced Monday it will pilot a "Grid Protectors Program" at a data center in Georgia and is partnering with Oracle and SoftBank to build "Stargate" data centers across multiple states, including two in Texas. OpenAI said its data centers will free up to 1,000 megawatts of power during emergencies.
OpenAI, company building data centers; Oracle, partner in Stargate data center project; SoftBank, partner in Stargate data center project
Site Selection magazine named Texas America's top business climate for the fourth year in a row. Texas also won the 2026 Prosperity Cup for attracting new business investments.
Governor Greg Abbott, Governor of Texas; Site Selection magazine, awarded rankings
Cullen/Frost Bankers is moving its primary stock listing from the New York Stock Exchange to the Texas Stock Exchange. Trading on TXSE begins November 12, with both the company's common stock and depositary shares transferring under the same symbols.
$$9.8 billion for market capitalization of Cullen/Frost
Cullen/Frost Bankers, company moving primary listing; Phil Green, Chairman and CEO of Cullen/Frost Bankers; James H. Lee, Chairman and CEO of Texas Stock Exchange
London-based payments technology company Navro secured a Money Transmitter Licence from the Texas Department of Banking, allowing it to handle payments and remittances across Texas.
Navro, London-based payments FinTech company receiving license; Texas Department of Banking, agency issuing license; Aran Brown, Navro CEO