“U.S. New Hashrate Locked Up” After Election; Musk Becomes the “Decisive Factor in the AI Landscape”

On the November 8 episode of the popular podcast All-In Podcast, co-host and Silicon Valley investor Chamath Palihapitiya revealed that the compute supply agreement between SpaceX and Anthropic includes a “90-day mutual exit clause”—a latent “nuclear-level” variable. Following the U.S. midterm election results—where Democrats secured a decisive victory—newly elected governors in multiple states swiftly adopted hardline stances, announcing an immediate, blanket suspension of approvals for new data center projects pending formal rollout of related regulations. This abrupt policy shift directly rattled capital markets: shares of tech giants including NVIDIA, Tesla, AMD, and Micron plunged in a single day, marking the largest one-day market-cap erosion in history, with total losses nearing $4 trillion. Should state-level permit freezes persist and trigger a sudden contraction in compute supply, SpaceX would be contractually entitled to terminate the agreement—and renegotiate pricing at two to three times prevailing spot-market rates. Such a move could fundamentally reshape power dynamics across the entire AI industry.