Several of former United Nations Ambassador Nikki Haley’s top donors are going all in on New Hampshire, warning that they may defect to former President Donald Trump if she doesn’t win the state primary.

Several top donors, speaking with CNBC, gave the impression of increasing desperation following Trump’s record-breaking victory in the Iowa caucuses. The donors were nearly all in agreement that unless Haley pulls off an upset win, or a “very, very close second,” in the words of one Haley lobbyist, the primary race will be effectively over.

“I would still like to see her get somewhere, but the mountain she has to climb is enormous,” New York businessman and top Haley donor Andy Sabin told the outlet. “As much as I like Haley, I don’t even know what Trump could do to stop himself right now.”

Despite previously telling CNBC that he wouldn’t give Trump “a f***ing nickel,” he has since changed his mind, saying that Trump “may be the only choice I have.”

All were convinced of the absolute importance of New Hampshire, one of the states where Haley is polling highest.

The state “is critical. If she wins there, and she can, it will be a long primary season,” Eric Levine, an attorney and bundler for Haley, told the outlet.

Others have completely lost hope in the South Carolina Republican. An investment banking executive and former Haley donor told CNBC on Tuesday that he is now convinced of Trump’s victory in the GOP primary and general election.

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Haley took a considerable blow in Monday’s Iowa Caucuses, failing to come in second place as her campaign had hoped. With 99% of the vote counted, Trump won 51% of the vote, followed by DeSantis at a distant 21.2% and Haley at a slightly more distant 19.1%. The former U.N. ambassador only took one of 99 counties.

Current polls project that she won’t perform much better in New Hampshire. According to the latest FiveThirtyEight average, Trump is 13 points ahead of Haley in the state where she is polling highest.