Investors had been selling off tech shares in part due to concerns the Democrat election victory would mean slower AI development.

Fears of more AI regulation appear to have sparked fear among investors, but concerns about the industry have been growing for some time.

Investors have reacted to possible tougher scrutiny of data centre construction and the AI industry.

Musk said it was to make room for production of its Cybercabs - autonomous taxis without a driver.

Investment has surged into the making of jet turbine blades - an extremely difficult component to make.

Musk spent nearly $500m in the 2026 US midterm elections, an individual election spending record.