AI isn't on the ballot, but it's still being tested

• This post originally appeared in the Business Insider Today newsletter.

Americans are casting their votes in an election cycle that could reshape Washington’s power structure.

The GOP’s control of both the House and Senate seems likely to break, according to most forecasts. Democrats are favored to win the House, with a shot at the Senate if they can net four seats while defending their own.

BI’s Brent D. Griffiths and Madison Hoff broke down everything you need to know — from the key topics to the closest races — for the 2026 midterm elections. Throughout the day and into the evening, we’ll also have updates on the tightest races and the business world’s reaction, so keep checking our homepage.

Today’s results could serve as a litmus test for AI on multiple fronts.

Midterm results could offer more color on the public’s appetite for AI infrastructure, shaping how tech companies try to appeal to voters going forward.

Others aren’t waiting to make an impact. Elon Musk has donated nearly half a billion dollars, the largest amount for a non-candidate to spend in a single election cycle, according to the New York Times. A good chunk of that money is supporting Texas Attorney General Ken Paxton’s Senate campaign, a key race for the GOP.

AI’s unofficial home state could also face a shake-up thanks to one proposal on the ballot.

California’s proposed billionaire tax has already sent some AI-focused billionaires packing, with many relocating to Florida. Meta’s Mark Zuckerberg considered leaving the state over the tax before the tech giant stepped in to ease his concerns (and his potential tax bill).

The proposal is a one-time 5% tax on current billionaires, but its approval could prompt hopeful billionaires to reconsider staying in the state. When we asked founders if they’d remain in California under a wealth tax, we got mixed responses.

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