A tall stack of hundred-dollar bills bound with a red, white and blue paper band sitting on a polished mahogany desk beside a brass campaign donation box and a scattering of ballot envelopes, close-up shot from a low angle, warm amber key light from the left mixed with a cool blue rim light from behind, deep shadows across the wood grain, shallow depth of field.

Musk Pours $366M Into Midterms as Billionaire Cash Floods In

By Oliver BennsOctober 14, 2026

Elon Musk has funneled roughly $366m into his super PAC and other Republican groups for the 2025-2026 cycle, already eclipsing the $290m he spent in 2024. Of that, $276m landed in the past three months alone. Musk is part of a broader surge: 20 big donors have combined for $1.2bn this cycle, with all but two backing Republicans, while an AI and crypto group has spent $127m across 100 primaries and won around 90% of them. The House is still widely expected to flip, raising questions about the return on the spend beyond deterrence and access.

Chip Stocks Crater as AI Bubble Jitters Hit Global Markets

Semiconductor shares tumbled worldwide on fresh AI bubble warnings, with South Korea's Kospi off 5.5%, Samsung down more than 7% and SK Hynix off over 3%. In the US, the Philadelphia semiconductor index fell for a fifth straight session and Micron dropped around 5%. The IMF warned a sharp pullback in AI investment could shave 1.1% off global GDP by 2028, even as chipmakers continue to raise guidance.

CoreWeave Debt Yields Blow Out to 15% on AI Buildout Risk

CoreWeave's unsecured notes are now yielding 15% as investors sour on the AI infrastructure play. The company is borrowing at around 9% to fund GPU clusters generating returns closer to 1%, with guidance pointing to 4-5% at best. If the AI capex cycle rolls over, CoreWeave's equity is seen as among the most exposed in the sector.

Guilfoyle Pushed Out as Greece Ambassador Over Pay-for-Access

The White House has asked Kimberly Guilfoyle to resign as US ambassador to Greece after reports she solicited $100,000 from a Trump donor in exchange for presidential access. Messages showed pledges to lobby the IRS and Justice Department on his behalf in return for private jet trips and luxury stays. The departure stands out against a wider pattern of unaddressed ethics questions across the administration.