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Politics

Elon Musk emerges as top funder for U.S. Republicans as SpaceX federal awards surge

Elon Musk has spent about $366 million on at least 40 U.S. midterm election contests, emerging as the largest individual donor, while SpaceX won $6.78 billion in federal government work over the same period. Filings show much of the spending flowed to Republican groups and America PAC. With Congress overseeing budgets and regulation, attention is focusing on how election outcomes could affect Musk-linked companies, contracts and probes.

Industry

Intel Ohio chip plant raises first structure after five-year delay, targets 2030 completion

Intel has completed installation of the first major structural truss at its large semiconductor plant under construction in New Albany, Ohio, and has moved into the next phase of work. The project is at least five years behind the original schedule. Intel had initially said chips would begin shipping in 2025, but it now targets completion in 2030. A second plant is planned on a site northeast of Columbus, with a completion target of 2031.

AI & Enterprise

BlackRock CEO warns halting AI data centre building could trigger U.S. recession

BlackRock CEO Larry Fink warned that blocking construction of AI data centres in the United States could tip the economy into recession. He said a pause in data-centre investment that underpins the AI boom could deliver a major shock, as much of the economy depends on capital spending. His remarks come as local opposition grows over electricity demand, water use and grid strain, with at least 100 areas approving construction halts, Brookings said.