Democrat Hinojosa Wins Texas Gubernatorial Election

On November 4, U.S. Democrat Hinojosa won the Texas gubernatorial election, becoming the first Democrat to be elected governor of the state since 1990. Analysts point out that if Talarico wins a Senate seat while Hinojosa defeats incumbent Republican Governor Abbott, it will significantly amplify the negative impact on AI transactions. Although Abbott suspended data center permits in September, he is widely expected to lift the ban if re-elected, while Hinojosa is anticipated to maintain or even strengthen restrictions. Wells Fargo estimates that about 27% of the national AI data center gigawatt capacity is concentrated in Texas, which has become a core destination for AI infrastructure expansion due to its lenient regulatory environment, ample energy, and tax incentives.