Another upset! Democrats win the Texas governor's election.

BlockBeats news, November 4, according to CNN, Democrat Hinojosa is projected to win the Texas gubernatorial election, becoming the first Democrat elected governor of the state since 1990.

BlockBeats previously reported that CNBC, citing analysts' judgments, pointed out that the scenario most worrying to the market is "Talarico winning the Senate seat while Hinojosa defeats Abbott to win the governor's position"—this combination would significantly amplify the negative implications for AI trades. Although incumbent Republican Governor Abbott suspended data center permits in September, analysts generally expect him to lift the ban after re-election, while Hinojosa is expected to maintain or even strengthen restrictions.

Wells Fargo estimates that about 27% of the nation's AI data center gigawatt capacity is concentrated in Texas. Texas, with its light-touch regulatory environment, abundant energy, and tax incentives, has become a core destination for AI infrastructure expansion. Once Texas's policy direction reverses, its symbolic significance and the actual capital expenditure impact will both extend beyond the state's borders.