May the year ahead be filled with new opportunities, brighter beginnings and countless reasons to celebrate.

Now, let's turn to what drove this week's biggest developments across the AI landscape. A 5.56% fall in the Nasdaq on Thursday. A 9.3% slide in Nvidia. And more than $420 billion wiped off the value of Tesla and SpaceX. Wall Street has just been given a reminder that the AI boom may not be immune to politics.

The trigger? A Democratic sweep of both chambers of the US Congress in the midterm elections. The result has changed the political equation in Washington. And for Silicon Valley, as well as investors who have poured money into the AI boom, it could mean a tougher road ahead.

Until now, America's AI giants have enjoyed a fairly friendly political climate. The Trump administration has pushed to speed up AI development and roll back rules that companies saw as hurdles. That made it easier for the industry to build, spend and race ahead.

But the Democrats' return to power in Congress could change that. They want stronger safeguards, more transparency and greater accountability from AI companies.

In other words, the industry may have to spend more time answering questions about what it is building, how it is using data and what risks its products could pose.

The market reaction was swift. 4%, respectively. 3%. Asian stocks also plunged at the open on Friday November 6.

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