{"id":74116,"date":"2026-11-04T01:38:13","date_gmt":"2026-11-04T05:38:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-signals-bipartisan-shift-following-midterm-losses-oracle-scuttles-7b-tencent-deal\/74116\/"},"modified":"2026-11-04T01:38:13","modified_gmt":"2026-11-04T05:38:13","slug":"trump-signals-bipartisan-shift-following-midterm-losses-oracle-scuttles-7b-tencent-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-signals-bipartisan-shift-following-midterm-losses-oracle-scuttles-7b-tencent-deal\/74116\/","title":{"rendered":"Trump Signals Bipartisan Shift Following Midterm Losses; Oracle Scuttles $7B Tencent Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>President Trump<\/strong> expressed openness to cooperating with <strong>Democrats<\/strong> on <strong>immigration<\/strong> and other legislative areas following a projected loss of Republican control in both the <strong>House<\/strong> and <strong>Senate<\/strong>.<\/li>\n<li>The President acknowledged that the ongoing <strong>war in Iran<\/strong> and record-high <strong>gasoline prices<\/strong>\u2014which hit an election-day record of <strong>$4.15 per gallon<\/strong>\u2014were primary drivers for the <strong>GOP&#39;s<\/strong> midterm defeat.<\/li>\n<li><strong>Oracle<\/strong> (<a href=\"\/stock\/ORCL\">ORCL<\/a>) has reportedly abandoned a <strong>$7 billion AI infrastructure deal<\/strong> with <strong>Tencent<\/strong> (<a href=\"\/stock\/TCEHY\">TCEHY<\/a>) after facing intense pressure from the <strong>Trump administration<\/strong> over national security concerns.<\/li>\n<li><strong>Democrats<\/strong> secured a majority in the <strong>U.S. Senate<\/strong> by flipping key seats in states including <strong>Iowa<\/strong>, <strong>Ohio<\/strong>, and <strong>Kansas<\/strong>, setting the stage for a divided government for the remainder of Trump&#39;s second term.<\/li>\n<\/ul>\n<h2>Post-Election Pivot and Bipartisan Outreach<\/h2>\n<p>In the wake of a &quot;dire night&quot; for the <strong>Republican Party<\/strong>, <strong>President Donald Trump<\/strong> has signaled a potential shift toward bipartisanship. Speaking on Wednesday, the President stated he is <strong>&quot;open to cooperation with Democrats&quot;<\/strong> on critical issues, specifically highlighting <strong>immigration<\/strong> as a priority for potential compromise. Trump noted that there are &quot;many areas&quot; where he could work with the new Democratic majorities, marking a departure from the combative rhetoric that defined the campaign trail.<\/p>\n<p>The shift comes as <strong>Democrats<\/strong> are projected to take control of both chambers of <strong>Congress<\/strong>. The <strong>Senate<\/strong> majority was secured after <strong>Democrat Josh Turek<\/strong> defeated incumbent <strong>Republican Ashley Hinson<\/strong> in <strong>Iowa<\/strong>. This new era of divided government is expected to bring increased oversight of the executive branch and potential investigations into the administration&#39;s recent policies, including its handling of the conflict in the Middle East and domestic enforcement actions.<\/p>\n<h2>Iran War and Energy Costs Blamed for GOP Defeat<\/h2>\n<p><strong>Trump<\/strong> has publicly recognized that the <strong>war in Iran<\/strong> was a significant factor in the <strong>Republican<\/strong> losses. In a telephone interview with <em>The Wall Street Journal<\/em>, the President admitted that voters were likely &quot;not willing to bear the short-term costs&quot; of the conflict, particularly the surge in <strong>gasoline prices<\/strong>. National averages for regular fuel reached <strong>$4.15 per gallon<\/strong> on election day, the highest recorded since tracking began in 2000.<\/p>\n<p>While the President defended his administration&#39;s actions as necessary to prevent Iran from obtaining nuclear weapons, exit polls indicated that the <strong>cost of living<\/strong> was the top concern for <strong>40% of voters<\/strong>. The conflict, which has entered its ninth month, has led to significant supply disruptions in the <strong>Strait of Hormuz<\/strong>, driving <strong>Brent crude<\/strong> prices toward <strong>$105 per barrel<\/strong>. Analysts suggest that the administration&#39;s inability to mitigate these energy costs created a &quot;blue wave&quot; that even traditionally red states could not withstand.<\/p>\n<h2>Oracle Abandons $7B Tencent Deal Under White House Pressure<\/h2>\n<p>In a major development for the technology sector, <strong>Oracle<\/strong> (<a href=\"\/stock\/ORCL\">ORCL<\/a>) has canceled a massive <strong>$7 billion AI deal<\/strong> with Chinese tech giant <strong>Tencent<\/strong> (<a href=\"\/stock\/TCEHY\">TCEHY<\/a>). According to reports from the <em>Financial Times<\/em>, the deal\u2014which involved a five-year lease for access to approximately <strong>100,000 advanced AI chips<\/strong>\u2014was scrapped following direct pressure from the <strong>Trump administration<\/strong>.<\/p>\n<p>The administration&#39;s intervention aligns with broader efforts to restrict Chinese access to high-end American semiconductor technology and AI infrastructure. The deal would have reportedly utilized data centers in <strong>Southeast Asia<\/strong> to bypass existing export controls. The collapse of the agreement highlights the persistent geopolitical risks facing major U.S. tech firms as the administration maintains a hardline stance on <strong>national security<\/strong> and technology transfers to <strong>China<\/strong>, even as it seeks domestic political pivots.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump expressed openness to cooperating with Democrats on immigration and other legislative areas following a projected loss 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