Musk's $120M GOP Backing Move: New Player in the Chip Wars?

Elon Musk has authorized his America PAC to spend between $100-120 million to support Republican candidates in the 2026 midterms. The super PAC will focus on Senate races in Alaska, Iowa, Michigan, and Ohio, while also launching a 'get out the vote' campaign targeting less engaged Republican voters. This move signals Musk's renewed alignment with Trump, though it comes amid scrutiny over America PAC's $1 million payments to Wisconsin voters. The semiconductor industry is watching closely as Musk's political spending could reshape the global chip supply chain dynamics.