Is the AI Party Over?

The AI industry has just had the fright of its life.

After a shock US midterm election result handed Democrats control of both houses of Congress, the companies leading the AI revolution suddenly face an uncomfortable reality: investigations, subpoenas, public backlash and the prospect of sweeping new regulation.
At the very centre of the storm is Nvidia CEO Jensen Huang, whose company sits at the heart of the global AI boom. Recent revelations surrounding Huang have triggered a crisis of confidence, wiped hundreds of billions from Nvidia's market value, and raised difficult questions about corporate governance, national security and the concentration of power inside the AI industry.
Meanwhile, Elon Musk's political gamble appears to have backfired spectacularly. After pouring hundreds of millions of dollars into the midterms, Silicon Valley's most influential figures are now confronting a Congress that may be far less willing to give them the benefit of the doubt.