> ## Content Index > Fetch the complete content index at: https://adjacent.media/llms.txt > Use this file to discover other available public pages before exploring further. # The Midterm Hangover, Valuations, Reorgs, and Layoffs, Earnings and Hard Numbers - URL: https://adjacent.media/scan/2026-11-05-am/ - Published: 2026-11-05T11:17:31.000Z - Updated: 2026-11-05T11:17:31.000Z - Description: The midterms are over, and the biggest loser was apparently a gray box full of GPUs, with Democrats taking Congress on a promise to slow AI build-outs. Elsewhere, the money kept flowing: Revolut is worth more than most banks, Sequoia is cleaning house, and Apple is posting records like it’s a hobby. - Author: Jonathan Greene - Tags: #scan-am, #scan The midterms are over, and the biggest loser was apparently a gray box full of GPUs, with Democrats taking Congress on a promise to slow AI build-outs. Elsewhere, the money kept flowing: Revolut is worth more than most banks, Sequoia is cleaning house, and Apple is posting records like it's a hobby. > **$474M** — The record Elon Musk reportedly spent as an individual donor trying to elect Republicans in a US election, and it didn't land. *(The Hollywood Reporter)* --- ### The Midterm Hangover #### [The midterms' biggest loser wasn't any particular candidate, but instead, the hulking, grey data center.](https://www.euronews.com/2026/11/04/us-midterm-elections-backlash-to-ai-data-centres-reaches-ballot-boxes?ref=adjacent.media) Democrats rode promises to pump the brakes on AI development and data center build-outs into control of the House, the Senate, and key governorships. *(Euronews)* #### [A very expensive night for Big Oil](https://heated.world/p/democrats-won-oil-money-lost?ref=adjacent.media) The money didn't buy much. *(Heated)* #### [WLFI Slides 11% on Election Night, Lags Bitcoin's Recovery](https://thedefiant.io/news/markets/wlfi-slides-11-on-election-night-lags-bitcoin-s-recovery?ref=adjacent.media) World Liberty's token was still 5.1% below its early-evening level by 5 a.m. ET, even as bitcoin recovered its losses. *(The Defiant)* #### [California fights "preposterous" Trump admin demand to scrap state broadband laws](https://arstechnica.com/tech-policy/2026/11/california-fights-preposterous-trump-admin-demand-to-scrap-state-broadband-laws/?ref=adjacent.media) California will take the $1.42 billion in broadband grants but not the strings the administration attached. *(Ars Technica)* ### Valuations, Reorgs, and Layoffs #### [Revolut confirms $115BN valuation, after completing secondary sale](https://tech.eu/2026/11/04/revolut-confirms-115bn-valuation-after-completing-secondary-sale/?ref=adjacent.media) More than double its valuation of two years ago, a lot of growth for a company that started as a travel card. *(Tech.eu)* #### [EXCLUSIVE: Sequoia Parts Ways With Half-a-Dozen Partners, Shuts European Office Amid AI-Era Reorg](https://open.substack.com/pub/newcomer/p/exclusive-sequoia-parts-ways-with) At least three US-based partners are out and the London office is closing, as the storied firm rethinks its playbook for the AI era. *(Newcomer)* #### [Canva is announcing changes and layoffs affecting 22 percent of its staff](https://www.theverge.com/tech/1025971/canva-changes-layoffs?ref=adjacent.media) That's 1,271 people, a big cut at a company that's supposed to be a design-tool success story. *(The Verge)* #### [Salesforce Cresta acquisition fills an important gap in its customer service AI story](https://www.forrester.com/blogs/cresta-fills-an-important-gap-in-salesforces-customer-service-ai-story/?ref=adjacent.media) Voice agents, real-time agent assist, and conversation intelligence get bolted onto Salesforce's service stack. *(Forrester)* ### Earnings and Hard Numbers #### [Apple announces record $114.5B fourth-quarter results](https://sixcolors.com/post/2026/11/apple-announces-record-114-5b-fourth-quarter-results/?ref=adjacent.media) Revenue is up 12% year over year, unusual for a maturing hardware company. *(Six Colors)* #### [AMD rides data center riches to 'largest and most profitable' quarter in history](https://www.theverge.com/tech/1026148/amd-earnings-q3-2026-data-center-pc?ref=adjacent.media) Lisa Su's superlative of choice, and the data center line is doing the heavy lifting. *(The Verge)* #### [Novo Nordisk Hikes 2026 Outlook Again](https://www.businessoffashion.com/news/beauty/novo-nordisk-hikes-2026-outlook/?ref=adjacent.media) Third raise of the year, powered by the Wegovy pill beating third-quarter sales expectations. *(The Business of Fashion)* #### [Booking Takes $1 Billion Hit Over Possible FTC Settlement, Sees 'Mixed' Travel Market](https://skift.com/2026/11/03/booking-takes-1-billion-hit-over-possible-ftc-settlement-sees-mixed-travel-market/?ref=adjacent.media) The Middle East conflict and higher airfares are hitting the industry across the board. *(Skift)* ### The Lighter Side #### [JetBlue Raises Bag Fees for the Second Time This Year](https://skift.com/2026/11/03/jetblue-raises-bag-fees-for-the-second-time-this-year/?ref=adjacent.media) A live test of how much more travelers will absorb before checking a carry-on becomes a lifestyle choice. *(Skift)*