In a notable development within Silicon Valley, over 100 venture capitalists, including prominent figures like entrepreneur Mark Cuban, have endorsed Kamala Harris for U.S. president. This move stands in stark contrast to the support that tech billionaires have shown Republican candidate Donald Trump.

Silicon Valley has long been associated with liberal politics, but this election cycle has seen a shift, with notable industry leaders backing Trump. Trump's selection of former venture capitalist JD Vance as his running mate has further galvanized Republican support. However, President Joe Biden's exit from the race on July 21 has reinvigorated some tech industry leaders who had previously remained neutral.

The venture capitalists who signed the public petition, including LinkedIn founder Reid Hoffman, investor Chris Sacca, Moxxie’s Katie Stanton, Fika Ventures’ Eva Ho, and Union Square Ventures’ Rebecca Kaden, expressed their support for Harris based on her commitment to democracy and technological progress. The petition highlights their belief in strong, trustworthy institutions as crucial for industry and national stability.

Box CEO Aaron Levie, a noted Democratic donor, confirmed to Reuters that many in Silicon Valley are disillusioned with the current state of the Democratic Party under Biden. Although Levie did not sign the petition, he has donated to Harris’s campaign and noted that Harris’s candidacy has significantly shifted the political landscape.

Mark Pincus, Zynga founder and Democratic donor, admitted to being “undecided and confused” after Biden's withdrawal. Pincus expressed that Harris's stance on innovation could clarify his position.

This wave of support for Harris follows a period where Trump gained backing from other wealthy Silicon Valley figures. Notably, Elon Musk publicly endorsed Trump after a July 13 assassination attempt, and David Sacks, former PayPal COO and a close associate of Musk, has hosted fundraisers for Trump.

Harris's campaign is expected to benefit from this fresh wave of backing as she prepares for the November 5 election.